Real Estate Math
A Colorado commercial property has 5,000 sq ft of rentable space at $22/sq ft/year. If 20% is vacant, what is the annual effective gross income?
A$66,000
B$76,000
C$88,000✓ Correct
D$110,000
Explanation
Gross potential income = 5,000 × $22 = $110,000. EGI = $110,000 × (1 − 20%) = $110,000 × 0.
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