1. If the net operating income before depreciation of a building is $31,200 anually, and the overall capitalization rate for rate this type of property is 12.5%, the value of the property using the capitalization formula is?
a. $312,050
b. $265,700
c. $249,600
d. $390,000
2. The Provincial Land Transfer Tax for a commercial property sellling for $387,000 is:
a. $4,280
b. $3,595
c. $5,805
d. $4,965