Bob buys a property that costs $1,000000. Bob will own the property for two years. I The NOI from the property for years 1-3 is to the right: Bob will sell the property at the end of year 2 at a cap rate that is 250 basis points lower than the cap rate at which he bought $105,000 the property. Use the above information for quation Q14-15 $1 10,000 14. Assume Bob does not use leverage. Find the NPV of Bob's investment if his discount rate is 20%. O 100,000 O 1,571,666.67 O 105,000 O 174,768.52 QUESTION 15 15. Assume Bob finances his purchase with a 50% LTV Fixed Rate |0 loan at an annual rate of 5% with annual compounding and annual payments. Find the NPV of Bob's investment if his discount rate is 20%. O 289,351.85 O 298,315.85 O 198,315.85