Your client, Monty Moneybags, owns a 4-unit industrial building with the following leases: Common areas are 8,000 square feet. No lease expires within the next three years and rents are comparable to the market. The operating expenses for the building are: The owner handles the property management himself but The owner handles the property management himself but estimates that it would cost about 2% of base rents if he hired a property management firm. Depreciation expense is $5,000. The vacancy and credit losses on average are 1% of the total base rent. The owner has a $50,000 non-amortizing mortgage on the building and pays interest of $4,000 per year. b) What is the total expense recovery rent included in the stabilized NOI of the property? Answer: c) What is the vacancy and credit allowance included in the stabilized NOI of the property? Answer: d) What are the total expenses included in the stabilized NOI of the property