Real Estate Math
A Mississippi property's annual gross income is $36,000. The vacancy and collection loss is 8%. The effective gross income (EGI) is:
A$33,120✓ Correct
B$28,800
C$34,000
D$36,000
Explanation
EGI = PGI × (1 − vacancy rate) = $36,000 × (1 − 0.08) = $36,000 × 0.
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