Consider the table. Assume that the subject property has effective gross income of $53,000 and a NOI of $27.500. What value would a caprate approach yield (rounded to the nearest $100)? Price Effective gross income % operating expense Comp 1 Comp 2 Comp 3 $300,000 $350,000 $375,000 50,000 55,000 60,000 50% 558 549 $ 25,000 $ 24,750 $ 27,600 NOI Multiple Choice $318,000 $328,600 $325,600 $362.402