Question 9 1.25 points Save Answer Using the Hubbart Room Rate Formula, compute the average daily rate per occupied room that is required to cover the costs of operation and provide a fair return on the hotel investment. Use the following data, some of which may be helpful and some of which may be useless: cTotal operating expenses$ 1,200,000 cTotal taxes, insurance & depreciation 150,000 Reasonable return on the fair value of the property 1,000,000 CNet profit from food & beverage areas 1,400,000 CLoss from spa and health club 80,000 CNet profit from store rentals 30,000 COther miscellaneous profits 100,000 CThis is a 75-room hotel a CAnticipated occupancy is 70 percent for the year The answer is: O Hubbart rate is $206.65 Hubbart rate is $84.00 Hubbart rate is $62.62 Hubbart rate is $46.97 None of the above