Real Estate Math
A property's gross income multiplier (GIM) is 8.5. The property has annual gross income of $60,000. What is the estimated value?
A$510,000✓ Correct
B$480,000
C$540,000
D$450,000
Explanation
Value = Annual Gross Income × GIM = $60,000 × 8.5 = $510,000.
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