An agent supplies the following information concerning an apartment building: Gross income - $80,000; Operating expenses - $25,000; Depreciation - $10,000; Vacancies - 10%; Value - $450,000. What would be the capitalization rate:
A: 8.2%;
B: 9.3%;
C: 10.4%;
D: 11.5%.
Answer: C: 10.4%;
Business
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