Real Estate Math
A South Dakota commercial property has a GRM of 8.5 and annual gross income of $96,000. What is the estimated value?
A$816,000✓ Correct
B$693,600
C$708,000
D$1,120,000
Explanation
Value = Annual Gross Income × Annual GRM = $96,000 × 8.5 = $816,000.
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