29. You're considering buying an apartment in Astoria, Queens. A similar, but less updated, apartment recently sold for $850,000 and subsequently rented for $2125/month. You think the apartment you are thinking of buying would rent for $2,400. Using the DCF valuation approach, compute the value of the apartment you're considering. State your answer as a number rounded to two decimal points (e.g. if your answer is $500899.934, write 500899.93) Hint: compute the gross rent mutiplier using the comparable property and apply it to the property you're interested in buying.

30. Which of the following is NOT considered in the underwriting process of a mortgage?

		Friend's and family's ability to lend money
		Capacity to pay
		Credit worthiness
		Collateral value