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Given the following information, calculate effective gross income (EGI). Sale price: $500,000 Number of Tenants: 8 Annual Rent per Tenant: $60,000 Vacancy & Collection Loss:

Given the following information, calculate effective gross income (EGI).

Sale price: $500,000

Number of Tenants: 8

Annual Rent per Tenant: $60,000

Vacancy & Collection Loss: 5% of PGI

Operating Expenses: 30% of PGI

Please show your math for each step and explain your steps.

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