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How much is Turn total revenue for the year

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Question - Turn Café sold a coffee shop franchise to Strike. The sale agreement, signed on March 2020 called for 350,000 down payment plus two 175,000 annual payments representing the value of initial franchise services rendered by Turnover. In addition, the agreement required the franchise to pay 8% of its gross sales to the franchisor. The coffee shop opened on October 2020 and its sales for the quarter ending is 2,625,000. Assuming the 12% interest is the rate appropriate (use 4 decimal places for PV factor), how much is Turn's total revenue for the year?

Reference no: EM132699389

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