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OLga [1]
3 years ago
9

A 30-unit income-producing property has a sales price of $9 million. Annual gross income is estimated at $750,000. What's the gr

oss income multiplier
Business
1 answer:
Cloud [144]3 years ago
8 0

Answer:

12

Explanation:

Given that,

Sales price = $9 million

Estimated annual gross income = $750,000

The gross income multiplier is defined as the ratio of sales price to its effective gross income.

Therefore, the gross income multiplier is calculated as follows:

= (Sales price ÷ Estimated annual gross income)

= $9,000,000 ÷ $750,000

= 12

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