Answer:
$68,400
Explanation:
For the entire building, computed below is the annual reserve for each cost element.
Interior paint for each apartment unit every 3 years = $1,500
Interior paint for each apartment per year = $1,500/3 = $500
Interior paint for all 48 units per year = 48 * 500 = $24,000
Resurface of building roof every 15 years = $18,000
Annually, resurface of building roof = $18,000/15 = $1,200
Interior carpet for each apartment every 5 years = $4,000
Interior carpet for each apartment per year = $4,000/5 = $800
Interior carpet for the all 48 units per year = 48 * 800 = $38,400
Refrigerator/disposal in each apartment every 12 years = $1,200
Refrigerator in each apartment per year = $1,200/12 = $100
Refrigerator for all 48 units per year = 48 * 100 = $4,800
Therefore, the annual reserve required for the entire building
= 24,000 + 1,200 + 38,400 + 4,800
= $68,400.
