Real Estate Math
A North Dakota office building has 10,000 sq ft of leasable space at $12 per sq ft per year. What is the annual rental income?
A$100,000
B$120,000✓ Correct
C$140,000
D$160,000
Explanation
Annual rental income = 10,000 sq ft × $12/sq ft/year = $120,000. Using the values given ($12), apply the appropriate formula.. The correct answer is $120,000.. This is a common calculation on the North Dakota real estate exam.
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