8. Suppose you are given the following information about a property, (A) Current gross income is $180.919. (B) Current operating expense is $48,000. (C) GIM of comparable properties is 6 times. What is the estimated value of this property? (A) $1,085,514 (B) $797,514 (C) $288,000 (D) $1,373,514 9. Which of the following statement about the valuation approaches is FALSE? (A) Gross income multiplier and direct capitalization approach rely heavily on the market transaction of comparables. (B) Sales comparison approach assumes that the operating expenses are similar for subject and comparable properties. (C) While using the income approach to evaluation properties with the nonrecurring items, we can take an annual average of such items and adjusting NOI downwards by deducting such outlays like annual expenses. (D) Discounted present value method assumes that property value is equal to the present value of all future NOIS