Real Estate Math
A Wyoming property has potential gross income of $84,000 per year. The vacancy rate is 8%. What is the effective gross income?
A$77,280✓ Correct
B$84,000
C$6,720
D$75,600
Explanation
Vacancy loss = $84,000 × 8% = $6,720. Effective Gross Income = $84,000 − $6,720 = $77,280.
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