3. You have just completed the appraisal of an office building and have concluded that the market value of the property is $2,500,000. You expect potential gross income (PGI) in the first year of operations to be $450,000; vacancy and collection losses to be 12 percent of PGI; operating expenses to be 30 percent of effective gross income (EGI); and capital expenditures to be 4 percent of EGI. soo What is the EGI for the first year? What is the NOI for the first year? What is the implied going-in capitalization rate? What is the effective gross income multiplier (EGIM)? Honor valued at