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Suppose an office building contains 60,000 square feet of rentable space. A tax consultant rents 20,000 square feet overlooking the park and negotiated a base
Suppose an office building contains 60,000 square feet of rentable space. A tax consultant rents 20,000 square feet overlooking the park and negotiated a base rent of $20/ square foot annually and expense stop of $5.00/square foot. The total reimbursable expense of the building is $300,000. Suppose the reimbursable expenses increase by 5% the following year. How much does the tenant owe the property owner for its share of the reimbursable expenses and its total base rent in that year? (5 points).
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