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As at December 31, 202X FFF REIT has 10,000,000 units outstanding with each unit trading at $85. FFF REIT has provided you the following information
As at December 31, 202X FFF REIT has 10,000,000 units outstanding with each unit trading at $85. FFF REIT has provided you the following information as at December 31, 202X.
Market value of assets | 2,200,000,000 | ||||
Market value of liabilities | 1,400,000,000 | ||||
Dividends paid in 202X | 33,000,000 | ||||
Rental revenues | 175,000,000 | ||||
Property operating expenses | 65,000,000 | ||||
Depreciation | 20,000,000 | ||||
Loss on sale of real estate assets | 5,000,000 | ||||
General & administrative expenses | 3,500,000 | ||||
Interest expense | 70,000,000 | ||||
Net income | 11,500,000 |
d) Calculate the G&A ratio
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