Problem:
Sam Clark purchased a four-unit apartment for $845,300. He made a down payment of $95,000. His annual expenses were mortgage interest of $46,200, depreciation of 3% of the purchase price, and taxes, repairs, insurance, and miscellaneous totaling $52,425. What monthly rent should he charge per unit if he desires an annual yield of 10.00%? Round to the nearest dollar. Do not use comma in your answer.