Real Estate Math
A Hawaii property generates $144,000 annual gross rent with a 7% vacancy rate. What is the effective gross income?
AA. $133,920✓ Correct
BB. $136,800
CC. $134,000
DD. $137,880
Explanation
Effective Gross Income = Gross Income × (1 - Vacancy Rate) = $144,000 × (1 - 0.07) = $144,000 × 0.
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