Using the following information, determine the net operating income (NOI) for the first year of rental...
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Using the following information, determine the net operating income (NOI) for the first year of rental operations of the small apartment property using an "above-line" treatment of capital expenditures: Number of apartments, 15; total contract rent (per apartment, per month), $1,500; vacancy and collection losses, 10% of potential gross income (PGI); operating expenses, 35% of effective gross income (EGI); capital expenditures, 10% of effective gross income (EGI); total mortgage payments in first year of operations, $106,920. $121,500 $26,730 $133,650 O $11.137.50 O $162,000 Using the following information, determine the net operating income (NOI) for the first year of rental operations of the small apartment property using an "above-line" treatment of capital expenditures: Number of apartments, 15; total contract rent (per apartment, per month), $1,500; vacancy and collection losses, 10% of potential gross income (PGI); operating expenses, 35% of effective gross income (EGI); capital expenditures, 10% of effective gross income (EGI); total mortgage payments in first year of operations, $106,920. $121,500 $26,730 $133,650 O $11.137.50 O $162,000
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