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An investor required 10% return on his money. A property had gross annual income of $110,000, a vacancy rate of 4%, and operating expenses of
An investor required 10% return on his money. A property had gross annual income of $110,000, a vacancy rate of 4%, and operating expenses of $10,000. What would be the maximum price that the investor would pay for the property? Select one: a. $956,000 b. $960,000 c. $96,000 d. $98,800
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