Property Valuation
A property's GRM is 9 and its annual gross income is $54,000. What is the estimated value?
A$378,000
B$432,000
C$486,000✓ Correct
D$540,000
Explanation
Value = GRM × Annual Gross Income = 9 × $54,000 = $486,000. Using the values given ($54,000), apply the appropriate formula..
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