Consider the table. Assume that the subject property has effective gross income of $53,000 and an NOI of $27,500. What value would a GIM approach yield (rounded to the nearest $100)? Price Effective gross income % operating expense NOI Comp 1 $ 300,000 50,000 50% $ 25,000 Comp 2 $ 350,000 55,000 55% $ 30,000 Comp 3 $375,000 60,000 54% $ 32,500

Consider the table. Assume that the subject property has effective gross income of $3,000 and an NOI of \$27,500. What value would a GIM approach yiold (rounded to the nearest $100 ?]