What is the correct sequence to arrive at an estimate of value using the income capitalization approach?
a. Determine effective gross income, find operating expenses, determine potential gross income, find net operating income Incorrect
b. Determine effective gross income, find net operating income, find operating expenses, determine potential gross income
c. Determine potential gross income, determine effective gross income, find operating expenses, find net operating income
d. Determine potential gross income, find net operating income, determine effective gross income, find operating expenses
