A percentage lease specified that the rent would be computed on the average rent paid during the lease. The monthly payments on the lease were $205 plus 2 1/2% of the tenant's gross annual receipts over $10,500. The tenant's gross receipts averaged $12,750 per month. Based on this information, what was the tenant's average monthly rental on this property:
A: $207.50;
B: $231.75;
C: $261.25;
D: $501.88.
Answer: D: $501.88.
Business
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Fill in the blank(s) with the appropriate word(s).
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