Given the following for a retail property:

This property is occupied by a single tenant:

Net Rentable Space------------------10,000 sq. ft.

Lease Rate----------------------------$16.00 per sq. ft. per year

Real Estate Taxes--------------------$1.75 per sq. ft. per year

Operating Expenses------------------$0.55 per sq. ft. per year

Insurance-------------------------------$0.06 per sq. ft. per year

Gross sale Actual------------------ $2,4000,000

Percentage Lease Clause @-------$2,000,000

Percentage Lease Clause------------4.0%

What is the amount of rent due on a per sq. ft. basis (per year) if the tenant has a

single net (N) lease and a percentage lease clause in the lease?

Show work if financial calculator is used show what keys were inputted to arrive at answer.