You are considering purchasing an office building for $2,500…

You are considering purchasing an office building for $2,500,000.  You expect the potential gross income (PGI) in the first year of rental operations to be $450,000; vacancy and collection losses to be 9 percent of PGI; and the sum of operating expenses and capital expenditures to be 42 percent of effective gross income (EGI). Assume ab above-line treatment of CAPX. What is the effective gross income multiplier (EGIM)?