Use the information provided below to calculate the year 2 effective gross income for the property that has been described Property Type: Leasable Space: Office 100,000 square feet Average Rent: $20 per square foot per year Annual Rent Growth: 2% Other Income: $1.50 per square foot per year Annual Other Income Growth: 4% Vacancy and Collection Losses: Operating Expenses: Capital Expenditures: 15% of potential gross income 45% of effective gross income 5% of effective gross income $1.89 million $1.85 million $1.81 million O $1.78 million