Using the following information, compute net operating income (NOI) for the first year of operations...
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Accounting
Using the following information, compute net operating income (NOI) for the first year of operations (rounded to $Thousands). Number of apartments: 15 Rent per month per apartment: $1,900 . Expected vacancy and collection loss: 8 percent Annual maintenance: $28,000 Income taxes: $58,000 Property insurance: $17,000 Management: $16,000 Property taxes: $19,000 Annual depreciation: $34,000 Capital expenditures: $0 Other operating expenses: $23,000 Annual mortgage debt payments: $35,000
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