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Assume that an office building typically yields net income of $1.5 million per year. The county has assessed the building at $20 million, based on
Assume that an office building typically yields net income of $1.5 million per year. The county has assessed the building at $20 million, based on the price of comparable buildings sold in the area. Assuming a discount rate of 10%, what is propertys value under the income method? Please show your calculations.
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