Real Estate Math
A property's net operating income is $48,000. Operating expenses are $22,000. What is the effective gross income?
A$26,000
B$70,000✓ Correct
C$48,000
D$22,000
Explanation
NOI = EGI - Operating Expenses. Therefore EGI = NOI + Operating Expenses = $48,000 + $22,000 = $70,000.
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