Real Estate Math
A Michigan commercial property has 8,500 rentable sq ft leased at $22/sq ft annually. What is the annual rent?
A$170,000
B$187,000✓ Correct
C$204,000
D$161,500
Explanation
Annual rent = 8,500 sq ft x $22/sq ft = $187,000. Using the values given ($22), apply the appropriate formula..
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