Real Estate Math
A rental property had annual revenues of $48,000 and expenses of $21,600. What is the expense ratio?
AA. 40%
BB. 45%✓ Correct
CC. 55%
DD. 50%
Explanation
Expense ratio = Operating Expenses ÷ Gross Revenue = $21,600 ÷ $48,000 = 0.45 = 45%.
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