Question 1 Using the following information, determine the Effective Gross Income. Misc. Income per Year $7,000 Number of apartments Market rent (per month) $3,000 Vacancy and collection losses 10% of PGI Operating expenses $52,000 Capital expenditures 10% of EGI $74,460 $132,400 $87.400 $136,600 Question 2 10p Using the following information, determine the net operating income (NOI) for the first year of operations of the subject property using "below-line" treatment of capital expenditures. Number of units:15 Market rent per unit per month: $1,000 Miscelaneous Income per year: $10,000 V& C Loss: 10% of PGI Operating Expenses: $62,000 CAPX: 5% of EGI $101,400 $110,000 $172,000 $108,400