The tenant has signed a percentage lease. The terms of the lease are $500 per month plus an annual payment equal to 9% of gross sales over $250,000. If, at the end of the year, the tenant is celebrating a million dollars in gross sales, how much additional rent does he still owe?
A) $6,000
B) $61,500
C) $67,500
D) $73,500
Correct Answer:
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