Real Estate Math
A Mississippi apartment building has 8 units, each renting for $875 per month. The building has a 5% vacancy rate. Annual effective gross income is:
A$84,000
B$79,800✓ Correct
C$75,200
D$88,200
Explanation
Gross potential income = 8 units × $875 × 12 = $84,000. Vacancy loss = $84,000 × 0.
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