Using the following information, compute net operating income $($NOI$)$ for the first year of operations. Use an "above$-$line" treatment of capital expenditures. $($Use table below$)$

a$.$ Number of apartments: $10$

b$.-$ Rent per month per apartment: $$900\mathrm{.}00$

c$.$ Expected vacangy and collection losss $10$ percent

d$.$ Annual maintenances $$18,000$

c$.-$ Property taxes: $$9,000$

f$.$ Property insurances $$7,000$

g$.*$ Management: $$8,000$

h$.$ Capital expendituress $$5,000$

P Other operating expenses: $$3,000$

j$.$ Annual motgage debt payments: $$35,000$

$\backslash$table$[[$Potential gross income,$],[-$ Vacancy and collection losses,$],[=$ piective gross income,$],[-$ Annual maintenance,$],[-$Pxoperty taxes,$],[-$Peppexy insurnce,$],[-$ Management expense,$],[-$ Oher prenting expense,$],[-$ Capial cxpanitines,$],[$ENOI$,]]$