Real Estate Math
A 6,000 sq ft retail building rents for $22 per sq ft annually. At 92% occupancy, what is the annual effective gross income?
A$121,440✓ Correct
B$125,400
C$126,720
D$132,000
Explanation
Annual gross = 6,000 × $22 = $132,000. Vacancy = $132,000 × 8% = $10,560. EGI = $132,000 − $10,560 = $121,440.
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