Estimate year one proforma effective gross income (egi) based on the following assumptions: 

1) for an apartment property with 250 - 2 bed-2 bath units property had an egi of $3,350,000 in the past 12 months approximately 50% of leases will renew in the next 6 months based on the actual rent roll today, egi is $3,850,000 market rent today is $1500 per month per unit current vacancy at the complex is 95% market rents are increasing 7% per year.

2) what would be your estimate if the current vacancy rate at the complex was 85% and market rents were stable?