Real Estate Math
An Oklahoma property's gross potential income is $96,000/year. Vacancy/credit loss is 7%. Operating expenses are $32,000. What is the net operating income?
A$64,000
B$57,280
C$56,720✓ Correct
D$57,120
Explanation
EGI = $96,000 × (1 − 0.07) = $96,000 × 0.93 = $89,280.93 = $89,280. $89,280 − $32,000 = $57,280. Answer B ($57,280).
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