What will be the estimate of property value

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Problem 1: If the income used in the appraisal (income approach) is $480,000 (annual) and the capitalization rate is 11%, what will be the estimate of property value?

Option 1: $5,280,000
Option 2: $2,990,000
Option 3: $4,363,636
Option 4: $2,290,000

Reference no: EM132811366

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