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Assume that a block of three flats is purchased at a price of $236087. The property is financed 59% by equity. It has a gross

Assume that a block of three flats is purchased at a price of $236087. The property is financed 59% by equity. It has a gross income of $30757, operating expenses of $8182, and an interest payment of $4451 per year. What is the return on equity invested in this property?

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