A developer has determined that the best use for a site is a mixed$-$use building with $34$ units over $7,500$ sf of retail. The unit mix and market rents are provided below.

Assume market vacancy is $5\%$ for the residential component and $10\%$ of the retail component. Other Income is estimated to be $3\%$ of NET rental income. Total Expenses are estimated to be $40\%$ of the Effective Gross Income. Create a stabilized income statement to calcuate the Net Operating Income

For full credit show your work.

$\backslash$table$[[$Market Rent,$],[$Residential$,,],[$Unit Type,$\backslash$table$[[$Number of$],[$Units$]],\backslash$table$[[$Market Rent $/],[$month$]]],[$Studio$,4,$$$1,200$

Note: PLEASE SHOW WORK WITH EXCEL FUNCTIONS.