Tom decides to open a theater. He knows it will cost $5 per square foot of space that he needs and he needs 12 square feet for every seat in his theater. He wants a 500 seat theater. He also realizes construction will cost twice as much as the land. He has a partner who covers 40% of the cost. How much does Tom spend? Let's be accurate as possible.
He needs 500 * 12 = 6000 square feet. This means it cost $5 * 6000 = $30,000. That means construction comes to $30000 * 2 = $60,000. So the total cost is $60000 + $30000 = $90,000. His partner covers $90,000 * .4 = $36,000. So he has to pay $90,000 - $36,000 = $54,000.
The answer: 54000.