22) Consider the table. Assume that the subject property has effective gross income of $53,000 and a NOI of $27,500. What value would a cap rate approach yield (rounded to the nearest $100)? Price Comp 1 Comp 2 Comp 3 $300,000 $350,000 $375,000 50% 55% 54% Effective gross income 50,000 55,000 60,000 % operating expense NOI A) $322,600 B) $325,600 $ 25,000 $30,000 $ 32,500 C) $328,600 D) $330,000

22) Consider the table. Assume that the subject property has effective gross income of $53,000 and a NOI of $27,500. What value would a cap rate approach yield (rounded to the nearest $100)? Price Comp 1 Comp 2 Comp 3 $300,000 $350,000 $375,000 50% 55% 54% Effective gross income 50,000 55,000 60,000 % operating expense NOI A) $322,600 B) $325,600 $ 25,000 $30,000 $ 32,500 C) $328,600 D) $330,000