4. [It] points} Valuation using Income Approach An appraiser appraises a food court and lounge and provides the following assessment: - The building consists of 2 floors with the following {IS} properties: to I5t floor (3} fine dining restaurants: I {I} - ICharles Mulligan's Steakhouse - rents for $3250fmonth I (2} - Tom' s Bistro - rents for $24UUfmonth ro End floor (1}barflounge and [2} fast food joints [same company} I SnakeholeLounge - rents for $32U0fmonth I (2) Paunch Burgers [fast food} - rents for $12l3|Ufmonth Vacancy and Collection Losses: 6% per year Miscellaneous Income: $1550 per year Operating expenses: 3U% per year Capital expenditures: 6% per year a} What is the estimated Potential Gross Income (PEI)? b} What is estimated Effective Gross Income (BED? c} What is the estimated Net Operating Income (N01)? d} Suppose the average overall capitalization rate for the comparable properties is 7. 5%. What is the indicated value of the subject property using the cap rate? e} Now suppose this is a small income-producing property and the average Effective Gross Income Multiplier (EGIM) for the comparable is 3. I54. What is the indicated value using the EGILHI