Real Estate Math
A NJ landlord collects $2,200/month rent from each of 6 units. Annual vacancy is 5%. What is the effective gross income?
A$150,480✓ Correct
B$158,400
C$148,500
D$154,440
Explanation
Potential Gross Income = 6 × $2,200 × 12 = $158,400. Vacancy loss = $158,400 × 5% = $7,920.
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