Real Estate Math
A Mississippi property has annual operating expenses of $28,000 and a net operating income of $52,000. What is the effective gross income?
A$24,000
B$80,000✓ Correct
C$52,000
D$28,000
Explanation
EGI = NOI + Operating Expenses = $52,000 + $28,000 = $80,000. Net Operating Income = EGI - Operating Expenses; rearranging: EGI = NOI + Operating Expenses.
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