Gordon operates the Tennis Pro Shop in Blacksburg, Virginia. Tennis Pro has prop

Question

Gordon operates the Tennis Pro Shop in Blacksburg, Virginia. Tennis Pro has property as follows:

Tennis Pro also rents Virginia property at an annual rent of $24,000. What is Tennis Pro's Virginia property numerator, denominator, and property factor?

NUMERATOR?

DENOMINATOR?

FACTOR? (Enter percent with 2 decimal places, for example enter .7525 for 75.249%)

Tennis Pro’s Property: State Beginning Ending DC $ 43,021 $ 41,983 Georgia $ 92,835 $ 83,024 Virginia $ 1,331,919 $ 1,438,439 Other $ 68,203 $ 68,203 Totals $ 1,535,528 $ 1,631,649

Explanation / Answer

NUMERATOR = $13,85,179       

DENOMINATOR = 87.47 percent  

$13,85,179 = [($ 13,31,919 + $ 14,38,439)/2]

87.47 percent =   [($ 13,85,179/ [($ 15,35,528 + $ 16,31,649)/2]

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