FACTS: You are considering purchasing a multifamily property for investment. Your preliminary investigation has revealed the following: Annual Gross Potential Rent: $2,552,000 4% Vacancy: Uncollectible Rent: 1.5% Monthly Operating Expense: Asking Price: $116,000 $13,250,000 QUESTIONS: 1. Determine the vacancy loss to the nearest $1000. 2. What is the estimated annual revenue to the nearest $1000? 3. What is the annual NOI to the nearest $1000? 4. What is the cap rate at the asking price? 5. If your goal is to purchase the property at an 8.5% cap rate, what is the most you should pay to the nearest $10,000