Final answer:
The value of the commercial property with an annual income of $33,600 and a GIM of 9.3 is $312,480.
Step-by-step explanation:
To find the value of a commercial property, we can use the Gross Income Multiplier (GIM) formula. The GIM is calculated by dividing the sale price of the property by the annual income it generates. In this case, the GIM is 9.3. To determine the value of a commercial property based on its annual income and a Gross Income Multiplier (GIM), you would multiply the annual income by the GIM
To find the value of the property, we can use the formula:
Value = Annual Income x GIM
Substituting the given values, we get:
Value = $33,600 x 9.3
Value = $312,480
Therefore, the value of the commercial property is $312,480.