Real Estate Math
A property's annual gross income is $96,000. The GRM is 8. What is the property's estimated value?
A$768,000✓ Correct
B$800,000
C$720,000
D$840,000
Explanation
Value = GRM × Annual Gross Income = 8 × $96,000 = $768,000. Using the values given ($96,000), apply the appropriate formula..
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