Real Estate Math
A Maine commercial property has a building area of 8,000 square feet and rents at $18 per square foot per year. Annual gross rent is:
A$108,000
B$144,000✓ Correct
C$18,000
D$216,000
Explanation
Annual gross rent = 8,000 sq ft × $18/sq ft = $144,000. Using the values given ($18), apply the appropriate formula.. The correct answer is $144,000.. This is a common calculation on the Maine real estate exam.
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