Real Estate Math
An apartment building has 8 units each renting for $850/month. The vacancy rate is 5%. What is the annual effective gross income?
A$77,520✓ Correct
B$79,560
C$81,600
D$83,640
Explanation
Gross potential income = 8 × $850 × 12 = $81,600. Vacancy loss = 5% × $81,600 = $4,080.
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