Real Estate Math
A Charleston, WV duplex generates potential gross income of $24,000 per year. Vacancy and collection loss is 5%. Operating expenses are $8,000. What is the net operating income (NOI)?
A$14,800✓ Correct
B$14,200
C$16,000
D$15,400
Explanation
Effective gross income = $24,000 x 0.95 = $22,800.
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