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Cap Rates are inadequate measures of investment returns because: a. They are a snapshot of investment performance rather than an overall picture; b. There is
Cap Rates are inadequate measures of investment returns because:
a. They are a snapshot of investment performance rather than an overall picture;
b. There is no clear definition of the Net Operating Income that is to be capitalized.
c. They ignore significant information (the impact of expiring leases; pending capital requirements);
d. All of the above.
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