(Answered) Using the following information compute the net operating

Finance

Using the following information, compute the net operating income (NOI) for the first year of operations. Include capital expenditures as an expense. Note: not everything that follows goes into the calculation of NOI.

• Number of apartments: 10

• Rent per month per apartment: $900.00

• Expected vacancy and collection loss: 10%

• Annual maintenance: $18,000

• Property Taxes $9,000

• Property insurance $7,000

• Annual mortgage debt payments $35,000

• Other operating expenses $3,000

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