- Use the following information to answer questions 6 through 9: Rent: $660 per month for 20 two-bedroom apartments Vacancy and collection loss: 5% +Annual expenses: Property taxes: $19,800 - Hazard insurance: $3,200 (exterior coverage, no contents) - Common area utilities $5,500 - Management expense: $21,750 - Mortgage interest: $18,467 - Maintenance: $6,000 - Depreciation allowance $22,300 Reserve for replacement: $4,200 Calculate the effective gross income (EGI). $152,480 EGI $151,480 EGI $150,480 EGI $153,480 Which expenses are classified as fixed operating expenses? O $16,800 property insurance. $6,200 hazard insurance O $19,800 property taxes. $3,200 hazard insurance O $18,800 property taxes. $4,200 hazard insurance O $17,800 property taxes. $5,200 hazard insurance -. Calculate the net operating income (NOI). Remember to include only operating expenses. $93,030 NOI $90,030 NOI O $92,030. NOI O $91,030 NOI 9. Assuming a market derived cap rate of .12, estimate the value of the subject property using the income capitalization approach (IRV formula). O $751,250 value using income capitalization approach $753,250 value using income capitalization approach $752,250 value using income capitalization approach O $750,250 value using income capitalization approach