Use the following information to set up an Income Approach for a 4 unit apartment building: 2 - 2BR units renting at $1,500 per month 2 1BR units renting at $1,000 per month Vacancy 1 - 1BR unit vacant for one (1) month per year 1 2BR unit vacant for two (2) months per year Operating Expenses 30 percent of EGI Reserves - $500 per year for the 1BR units and $1,000 per year for the 2BR units Capitalization rate: Sale #1 NOI of $20,000, Price of $400,000 NOI of $30,000, Price of $600,000 NOI of $25,000, Price of $500,000 Calculate the Estimated Value (using Excel model and submit XLS file)