Real Estate Math
A Hawaii property has a potential gross income of $72,000. A 5% vacancy rate and 2% credit loss rate apply. What is the effective gross income?
AA. $65,520
BB. $66,960✓ Correct
CC. $68,400
DD. $67,200
Explanation
Vacancy loss = $72,000 × 0.05 = $3,600.
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