Group Assignment In a group of five (5), you are required to complete the following case problems. The assignment due date is on the 13 June 2019 at 3:30 pm. Please note that all submission is through Schoology and the system will automatically reject any late submission. Arnold Benedict is thinking of buying an apartment complex that is offered for sale by the firmof G&F Associate. The price, RM2.25 million, equals the property’s market value. The followingstatement of income and expense is presented for Benedict’s consideration:The Stated Satyr Apartments Prior Year’s Operating Results Presented by G&FAssociate, Brokers30 units, all two-bedroom apartments, RM975 per monthRM351,000Washer 10,000Gross annual incomeRM361,000(-) Operating expenses:Manager’s salaryRM10,000Maintenance staff (one person, part time)7,800Seedy landscapers1,300Property taxes13,50032,600Net Operating IncomeRM328,400By checking the electric meters during an inspection tour of the property, Benedict determinesthe occupancy rate be about 80 per cent. He learns, by talking to tenants,
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