Real Estate Math
A property rents for $1,200 per month. The annual vacancy rate is 5%. What is the effective gross income?
A$12,000
B$13,680✓ Correct
C$14,400
D$15,000
Explanation
Annual gross income = $1,200 × 12 = $14,400. Vacancy loss = $14,400 × 0.
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