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Bruce Wanye is interested in purchasing a property with an effective gross income of $55,022 and a net operating income of $29.569. A comparable property

Bruce Wanye is interested in purchasing a property with an effective gross income of $55,022 and a net operating income of $29.569. A comparable property has a price of $311,275. effective gross income of $52.345. and an NOI of $27,947. What is an estimate of the sales price using the gross income multiplier approach?

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