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Please show all necessary work. 6. A new income property is being appraised and you have very few improved sales, and no vacant land sales
Please show all necessary work. 6. A new income property is being appraised and you have very few improved sales, and no vacant land sales to estimate land value. Assume the following, and solve for the land value, using the land residual capitalization method. (3 points) Net operating income: $64,000 Building cost: $400,000 Interest rate: 8.0% Recapture rate: 2.0%
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Please show all necessary work.
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