Assume you are a 6,500 sq. ft. tenant in a retail center. Your lease indicates a base rent of $19.00 psf; CAM pass-throughs and percentage rents at 6% with breakpoint of $2,000,000 annually. Actual data for the current year indicate CAM of $3.50 psf and store revenue of $2,100,000. What is your total annual rent? (Ch9)

	a.	$146,250
	b.	$266,250
	c.	$272,250
	d.	$152,250

A property that produces an annual NOI of $225,000 was purchased for $3,100,000. Debt service for the year was $173,077 (interest $143,535 & principal $29,542). Annual depreciation is $63,590. Assume you sell the property after 2 years of ownership for a gross price of $3,700,000. Assuming you also pay closing costs (including commissions) of 4%. How much tax on the gain would be payable if marginal ordinary rates are 35%, capital gain rates are 15% and depreciation recapture rates are 25%? (Hint: All of these tax rates may not be applicable) Ch11

	a.	$ 25,916
	b.	$ 32,618
	c.	$ 99,595
	d.	$ 107,142