Real Estate Math
A property has a gross annual income of $60,000, a vacancy rate of 5%, and operating expenses of $22,000. What is the NOI?
A$35,000✓ Correct
B$38,000
C$29,750
D$57,000
Explanation
Effective gross income = $60,000 x (1 - 0.05) = $57,000.
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