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25) A commercial property is currently being sold and has an asking price of $502620. You are looking at investing in the property which has
25) A commercial property is currently being sold and has an asking price of $502620. You are looking at investing in the property which has a gross rental income of $44794 and annual operating expenses are $7189. To finance the property you will also have mortgage repayments of $19912 per annum. Calculate the capitalisation rate. (Please type your answer in decimals and round your answer to three decimal places. For example, 10.1% should be 0.101.)
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