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Felice bought a duplex apartment at a cost of $165,000. Her mortgage payments on the property are $1,780 per month, $858 of which can be
Felice bought a duplex apartment at a cost of $165,000. Her mortgage payments on the property are $1,780 per month, $858 of which can be deducted from her income taxes. Her real estate taxes total $2,364 per year, and insurance costs $1,320 per year. She estimates that she will spend $1,242 each year per apartment for maintenance, replacing appliances, and other costs. The tenants will pay for all utilities. What must she charge to make $3,700 in profit each year?
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