Given the following

Number of Units 150 Operating Expenses $800,000

Vacancy rate 5% Collection Loss 2%

Monthly Rent $1,000 Debt Service $360,000

Calculate on an Annual Basis

(There are no negative numbers in this answer)

A. What is the Potential Gross Income (PGI)?

B. What is the Effective Gross Income (EFI)?

C. What is the Net Operating Income (NOI)?

D. What is the Before Tax Cash Flow (BTCF)?

E. Utilizing a capitalization rate of 9.5%, what is the estimated value of the property?

Show work if financial calculator is used, show what keys were inputted to arrive at answer.