5-year Lease 1st Year: $1,800 per month
2nd Year: $2,000 per month
3rd Year: $2,500 per month
4th Year: $3,000 per month
5th Year: $3,300 per month
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Total Rent
($1,800 + $2,000 + $2,500 + $3,000 + $3,300) x 12 = $151,200 Average Annual Rent $151,200 / 5 years = $30,240 4 Times of AAR = $30,240 x 4 = $120,960
Lease Duty
0.4% x $120,960 = $483.84
$483.00 (rounded down to the nearest dollar)
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