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A 126,000 square foot office building in Plano, Texas is fully leased to the Dr. Pepper Snapple Group at a base rent of $2.50 per square foot per month. The building’s expenses total $0.90 per square foot per month and an expense stop in the Dr. Pepper lease is set at $6.00 per square foot per year. What is the annual NOI?
a. $3,024,000
b. $3,175,200
c. $3,780,000
d. $2,419,200
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