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urgent Extra-Credit Question (5 points) A real estate company is considering a new project consisting of an apartment building with 100 units. Each unit can

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Extra-Credit Question (5 points) A real estate company is considering a new project consisting of an apartment building with 100 units. Each unit can be rented for $2,033/ month. It is expected to have an average vacancy rate of 11%. Net operating expenses are budgeted as 24.7% of the project's gross annual income. What would be the economic value of this project, using a cap rate of 8.1%

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