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What is the annual NOI if the annual PGI is $1,200,000, operating expenses are $450,000 annually, vacancy is 5%, and miscellaneous income is $35,000 annually.

What is the annual NOI if the annual PGI is $1,200,000, operating expenses are $450,000 annually, vacancy is 5%, and miscellaneous income is $35,000 annually. Clearly show steps.

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