This course is specifically designed as the advanced course to the Income Approach which meets 30 of the 60 hours required by the Appraiser Qualifications Board for Qualifying Education for General Certified Appraisers. The course covers topics such as yield capitalization, discounting and net present value, discounted cash flow analysis, operating statements, lease analysis, leasehold, leased fee and sub-lease valuation, mortgage analysis and cash equivalency. These topics are discussed in relationship to the sometimes-unique characteristics of agricultural lease properties as well as commercial properties. The concepts and methodology are reinforced through classroom discussion, drill problems and case studies. After successful completion of the introductory course and this course, the student will have the foundation required for analyzing the value of real property through the Income Approach.