Broker/owner Davis of XYZ Real Estate Ltd. is weighing the financial merits of remaining in the existing office premises that consists of 3,000 square feet The current rent per square foot per year is $9.22. Last year, the same premises rented at $8.95. The landlord has informed broker/owner Davis that next year's rent will be $9.40 per square foot per year. What are the respective rent increases from last year to this year, from this year to next year (rounded to the nearest percent) and the amount of rent payable each month during the next year if broker/owner Davis elects to remain in these premises?
