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An income-producing property has a potential annual gross income of $81,420. Vacancy and collection losses are estimated at 10% of potential gross income. Expenses are

An income-producing property has a potential annual gross income of $81,420. Vacancy and collection losses are estimated at 10% of potential gross income. Expenses are estimated at $40,000. The estimated value of the property is $250,000. The cap rate for this property is:

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