Property Valuation
A Florida commercial property has a potential gross income of $300,000. If the market suggests a 6% vacancy rate, what is the effective gross income?
A$282,000✓ Correct
B$300,000
C$294,000
D$306,000
Explanation
Vacancy loss = $300,000 × 6% = $18,000. EGI = $300,000 − $18,000 = $282,000. To solve this, multiply the relevant values: $300,000 at 6%.. The correct answer is $282,000.. This is a common calculation on the Florida real estate exam.
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