Real Estate Math
A Rhode Island commercial building has a GIM (Gross Income Multiplier) of 8 and annual gross income of $120,000. What is the indicated value?
A$840,000
B$960,000✓ Correct
C$1,080,000
D$1,200,000
Explanation
Value = GIM x Annual Gross Income = 8 x $120,000 = $960,000. Using the values given ($120,000), apply the appropriate formula..
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