Answer:
12
Explanation:
Given that,
Sales price = $9 million
Estimated annual gross income = $750,000
The gross income multiplier is defined as the ratio of sales price to its effective gross income.
Therefore, the gross income multiplier is calculated as follows:
= (Sales price ÷ Estimated annual gross income)
= $9,000,000 ÷ $750,000
= 12
