Property Valuation
A Florida appraiser calculates a 'gross rent multiplier' of 10. If the subject property's annual gross rent is $36,000, the estimated value is:
A$360,000✓ Correct
B$36,000
C$3,600,000
D$180,000
Explanation
Value = Annual Gross Rent × GRM = $36,000 × 10 = $360,000. Using the values given ($36,000,), apply the appropriate formula..
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