Jim Smith invests $2,500,000 in a prime seaside 3-unit strip mall. He has a$500,000 down payment. Kate's Kites and Sandy's Seashells each occupy a 1,200 square foot unit. Seaside Realty occupies the 2,000 square foot unit. The units rent for $8.33 per square foot per month. The annual mortgage interest is$175,000, depreciation is 3.5% of the purchase price, and taxes, insurance, repairs, and upkeep total $125,000. Determine the annual
(a) net income
(b) yield.