问题
单项选择题
One real estate investment has the following characteristics:
A．Annual rental income
B．$18000000
C．Annua operating expenses
D．$1200000
E．Available mortgage rate
F．6%
G．Financing percentage
H．90%
I．Required rate of retum
J．15%
K．Estimated holdng period
L．5 years
M．Investor’s tax rate
N．25%
答案
参考答案：A
解析：Using the income approach: ($1800000-$1200000)/0.15=$ 4000000.
