Real Estate Math
A property has annual gross rents of $36,000, a vacancy rate of 5%, and operating expenses of $12,000. What is the net operating income (NOI)?
A$22,200✓ Correct
B$24,000
C$26,400
D$28,800
Explanation
Effective gross income = $36,000 × (1 − 0.05) = $34,200.
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