Using the following information, compute net operating income NOI.

Number of apartments: 10

Rent per month per apartment: $900.00

Expected vacancy and collection loss: 10 percent

Annual maintenance: $18,000

Property taxes: $9,000

Property insurance: $7,000

Management: $8,000

Capital expenditures: $5,000

Other operating expenses: $3,000

• A.

  $17,200

• B.

  $37,200

• C.

  $47,200

• D.

  $27,200

• E.

  $57,200