hi, why in the question 9, page 64 of the Schweser book 4 (Alternative Inv and FI) we do not subtract non-cash rents in the NAV calculation?
The non-cash rent would be subtracted if it were included in the top-line rent amount. Here, however, the top-line rent amount is cash rent, so the non-cash rent is never included; if it’s not included, it needn’t be subtracted later.
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got it, thanks!
My pleasure.