Real Estate Math
A Michigan rental property generates $2,400 per month in gross rent. Annual operating expenses are $14,400. What is the annual net operating income (NOI)?
A$14,400✓ Correct
B$28,800
C$12,000
D$16,800
Explanation
Annual gross rent = $2,400 x 12 = $28,800. NOI = Gross Rent - Operating Expenses = $28,800 - $14,400 = $14,400.
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