If a property sold for $320000 and the following capitalization rates were used, what was the net operating income per month for each question (5-7): Assume: (Rounding! No pennies please! And withing $100 of answer!)

5. 4% cap?

a) $12,800

b) $6,400

c) $1,066

d) $8,000

e) None of the above

6. 6% cap?

a) $1,066

b) $53,334

c) $19,200

d) $5,344

e) None of the above

7. 10% cap?

a) $3,200

b) $32,000

c) $2,667

d) $16,600

e) None of the above