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Consider a company that is building 10 apartments and assume that the company will be able to rent all the units once the construction is finished

Economics

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Consider a company that is building 10 apartments and assume that the company will be able to rent all the units once the construction is finished. The total construction cost is $1,000,000, annual insurance cost is $200,000 and assume that there is no salvage value. If the usefulllfe of the bullding is 10 years, calculate minimum monthly rent for a unit in order to cover the cost of this investment if MARR is 10% Select one: a. 1000 b. 10000 C.2000 d. 1785 8.4821 1.3022