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iven the following income and expense projections for an apartment complex, formul econstructed operating statement. The building consists of 4 units which could rent fo

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iven the following income and expense projections for an apartment complex, formul econstructed operating statement. The building consists of 4 units which could rent fo 687.50 per month each. ental Income ess: Expenses Power 30,3 1,100 Heat Janitor Water& Sewage Maintenance Reserve/replacements Depreciation Real Estate Taxes Income Taxes Insurance Mortgage Payments 850 2,300 1,850 2,400 1,400 2,5 3,050 2,800 4,550 3,150 24,950 24,950 5,350 Estimating vacancy and collection losses at 4 percent of gross income and management expenses at 5 percent of adjusted gross income, which of the following is closest to your estimate of the reconstructed Net Operating Income? 10,446 12,530 12,596 5,146

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