单选题 An analyst does research about real estate investment and gathered the following annual information about a real estate investment:

Rental income net of vacancy and collection losses	$750000
Depreciation	$130000
Net operating income	$475000

If the property above is valued at $3925000 based on the income approach, the capitalization rate is closest to:
A. 8.8%
B. 12.1%
C. 15.8%

【正确答案】 B

【答案解析】[解析] 在收入法之下，appraisal price=NOI/market cap rate，因而有：
$3925000=$475000/market cap rate，得出market capitalization rate=12.1%。