The Whitmans decided to offer their beach house in Miami for rent. If they expect a monthly rent of $5,000 and the cost of building the house is $1 million, their expected rate of return is:
A) 0.005 percent annually.
B) 0.5 percent annually.
C) 5 percent annually.
D) 15 percent annually.
E) 10 percent annually.
Correct Answer:
Verified
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