Real Estate Math
A building has a gross annual income of $120,000, vacancy and collection loss of 8%, and operating expenses of $35,000. What is the net operating income (NOI)?
A$75,400✓ Correct
B$74,600
C$85,000
D$110,400
Explanation
Effective Gross Income = $120,000 × 0.92 = $110,400.
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