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Question
A property that produces an annual NOI of $100,000 was purchased for $1,200,000. Debt service for the year was $95,000 of which $93,400 was interest and the remainder was principal. Annual depreciation is $38,095. What is the taxable income?
A) $5,000
B) $6,600
C) −$31,495
D) −$33,095
Answer
This answer is hidden. It contains 19 characters.
Related questions
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