math5

appraiser rosen is working on an appraisal of an apartment building at 62 union square utilizing the income approach. there are 22 one bedroom units, 47 two bedroom unitsand 18 three bedroom units with potential gross monthly rents of $755, $985 and $1225 respectively. the three bedroom units pay an adittional $35 monthly for a parking space and all units pay an additional $15 for laundry facilities each month. with a 5% allowance for vacancy and bad debt calculated on all income, what is the annual effective gross income of the property based on the information provided?

 

a) $970, 325

 

b) $990,546

 

c) $1,042,680

 

d) $970, 422

  

explain with details all answers.