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Billy bought a rental property for $150,000 and financed it with a $120,000 loan. For the first year, his net rental income is $12,000, his

Billy bought a rental property for $150,000 and financed it with a $120,000 loan. For the first year, his net rental income is $12,000, his interest expense is $8,000, and the value of the property is increased by $11,000. How would Billy calculate his return on investment for the year

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