Consider the table below. Assume that the subject property has effective gross income of $53,000 and a NOI of $27,500. What value would a cap rate approach yield?

	Comp 1	Comp 2	Comp 3
Price	$300,000	$350,000	$375,000
Effective gross income	50,000	55,000	60,000
% operating expense	50%	55%	54%
NOI	25,000	30,000	32,500

Question 9 options:

	$322,626
	$325,657
	$328,603
	$330,000