Real Estate Math
A New Mexico property owner leases 1,200 sq ft of office space at $22/sq ft/year. The annual base rent is:
A$22,000
B$24,200
C$26,400✓ Correct
D$28,800
Explanation
Annual rent = 1,200 sq ft x $22/sq ft/year = $26,400. Using the values given ($22), apply the appropriate formula..
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