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You are considering the purchase of an investment property. A local duplex has net operating income of 14,418.38%, annual taxes of $925, and is selling

You are considering the purchase of an investment property. A local duplex has net operating income of 14,418.38%, annual taxes of $925, and is selling for $258,634. What is the cap rate for this property?

Answer should be formatted as a percent with 2 decimal places (e.g. 99.99).

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