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Question 1: (4 marks) Sarah is going to value a property which consists of 20 unit of apartments. Each unit has s monthby treat of SAR4,500. With the current economic situation, yacancy and loss in collection is calimated a 16 per yeac. The first-year operating expenses are expected to be al 25 percent of effective gons income (EGI). Capital expenditures allocation is 10 percent of EOT. If the cap tate (R.) is 8%, dectertinc the indicated value of the subject property using the direet eapitalization methods (Please show all yout workings)