Property Valuation
A Kansas property's 'income multiplier' approach using an annual gross income of $24,000 and a GIM of 10 yields an estimated value of:
A$240,000✓ Correct
B$280,000
C$300,000
D$320,000
Explanation
Value = Annual Gross Income × GIM = $24,000 × 10 = $240,000. Using the values given ($24,000), apply the appropriate formula.. The correct answer is $240,000.. This is a common calculation on the Kansas real estate exam.
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