Question: The total rent for a fourplex is 4 0 0 0 amonth.Theannualvacancyrateis 1 0 1 0 0 0 is earned annually from parking meter fees.

The total rent for a fourplex is 4000amonth.Theannualvacancyrateis101000 is earned annually from parking meter fees. Annual operating expenses are $11,000. If the appraiser determines the market area cap rate at 10%, what is the market value of the property?

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