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18) The gross potential rent of an apartment complex is $1.2 million, tenant late fees are $50,000, the vacancy rate is 5% and the operating
18) The gross potential rent of an apartment complex is $1.2 million, tenant late fees are $50,000, the vacancy rate is 5% and the operating expense margin is 45%. What is the net operating income of the complex?
A) $860,000. B) $653,125. C) $654,500. D) $535,500.
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