You want to purchase an office building. The property contains 47158 square feet of rentable space and is currently occupied by multiple tenants, each with a recently renewed long maturity lease. The annual rent in the 1st. as a number rounded to the nearest cent (e.g. if you get $13.57654, write 13.58) ownership is $47.05/sq ft. The vacancy rate is 6.5%. You expect to incur collection losses (from tenant default) on 1.5% of the square feet during your first year. What is the Potential Gross Income (PGI) for the first year? State your answer year of