Homework Answers
Solution: $153,900
Working:
| PGI (15 * 1000 * 12) | 180,000 |
| Minus: Vacancy (10% * 180,000) | 18,000 |
| EGI | 162,000 |
| Minus: Operating expenses (5% * 162,000) | 8,100 |
| NOI | 153,900 |
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