Given the following information, calculate the capitalization rate for the following apartment complex: number of apartments: 16;
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Question:
Given the following information, calculate the capitalization rate for the following apartment complex: number of apartments: 16; market rent (per month): $1,000; vacancy and collection loss: 10% of potential gross income; operating expenses: 5% of effective gross income; capital expenditures: 10% of effective gross income; acquisition price: $1,710,000.
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