Real Estate Math
A West Virginia income property generates $60,000 annual gross income with a 10% vacancy rate. Effective gross income is:
A$54,000✓ Correct
B$56,000
C$58,000
D$60,000
Explanation
Effective gross income = Gross income × (1 - vacancy rate) = $60,000 × 0.90 = $54,000. To solve this, multiply the relevant values: $60,000 at 10%.. The correct answer is $54,000.. This is a common calculation on the West Virginia real estate exam.
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