A building contains 50 units at which rent is estimated to be $22.50 per square foot per year. The average size of a single unit is 750 square feet. All tenants are expected to rent out parking and storage spaces for an additional $800 per unit per year. Vacancy and collection allowances are set to 4% of gross potential income. Total operating expenses for the year are expected to make up one quarter of the potential gross income. What is annual effective gross income for this building?