Property Valuation
An Alaska property has a GPI of $150,000, a 5% vacancy rate, and operating expenses of $55,000. What is the NOI?
A$87,000
B$87,500✓ Correct
C$92,500
D$95,000
Explanation
EGI = GPI × (1 − vacancy) = $150,000 × 0.95 = $142,500.
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