Real Estate Math
A Wyoming building contains 12,000 square feet and rents for $18 per square foot annually. The vacancy rate is 10%. What is the effective gross income?
A$194,400✓ Correct
B$216,000
C$21,600
D$180,000
Explanation
PGI = 12,000 × $18 = $216,000. Vacancy = $216,000 × 10% = $21,600. EGI = $216,000 − $21,600 = $194,400.
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