The area of the parking lot is 264 square yards.
The vertices of the parking lot form a rectangle on the coordinate grid. To find the area of the parking lot, we need to find the length and width of the rectangle.
Using the coordinates, we can calculate the length of the rectangle by finding the difference between the x-coordinates of two opposite vertices: 12 - 0 = 12 yards. Similarly, we can calculate the width by finding the difference between the y-coordinates of two opposite vertices: 24 - 2 = 22 yards.
The formula for the area of a rectangle is length x width. Substituting the values we calculated, the area of the parking lot is 12 yards x 22 yards = 264 square yards.