Number of Units: 150 Vacancy Rate: 5% Bad Debt (or Credit Loss) Allowance: 2% Per Unit Annual Rent: $4,000 Operating Expenses: $ 98,000 Financing Costs: $ 85,000 Annual Depreciation: $ 15,000 29. What is the net operating income? Number of Units: 150 Vacancy Rate: 5% Bad Debt (or Credit Loss) Allowance: 2% Per Unit Annual Rent: $4,000 Operating Expenses: $ 98,000 Financing Costs: $ 85,000 Annual Depreciation: $ 15,000 30. If the cap rate is 9.5 percent, what is the estimated value of the property? Four years ago, you bought a rental house for $75,000, Values in the neighborhood have been appreciating at about 4 percent per year. Based on this information, what is the value of your house? (Do not consider the effect of compound appreciation.) 563,000 $72,000 $75.000 $78,000 S87,000