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11. What is the intrinsic value of an apartment complex with the following details? Gross potential receipts of $460,829 95% annual rental capacity Operating expenses

11. What is the intrinsic value of an apartment complex with the following details? Gross potential receipts of $460,829 95% annual rental capacity Operating expenses of $209,979 (excluding depreciation and interest expense) Capitalization rate of 11.9% a. $1,915,378 b. $3,679,907 c. $3,872,512 d. 3,697,705

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