1 Sam Clark purchased a four unit apartment for 845 300 He made a down payment of 95 000 and rented each of the four units for 2 750 per month His annual expenses were mortgage interest of 46 200 depreciation of 3 of the purchase price and taxes repairs insurance and miscellaneous totaling 52 425 a What is the annual net income b What is the annual yield c What monthly rent should he charge if he desires an annual yield of 10 00