Property Valuation
A West Virginia income-producing property generates a net operating income (NOI) of $60,000 annually. If the capitalization rate is 8%, the estimated value is:
A$480,000
B$600,000
C$750,000✓ Correct
D$960,000
Explanation
Using the income approach: Value = NOI / Cap Rate = $60,000 / 0.08 = $750,000.
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