11. If you buy the property at the asking price of $7,000,000, what will your going in Cap Rate be? Write your answer in percent, but do not include the % sign.

(A) 6.25% (B) 8.5% (C) 9.22% (D) 10.17%

NOI=645150

12. If the annual IRR for this property is 8.5%, then based on the cap rate in question 11, what does this imply is expected NOI growth rate for this property? Write your answer in percent, but do not include the % sign (if your answer is negative, include the negative sign, as always).

13. You do research and find that similar properties are selling at an 11% cap rate. Using an 11% cap rate, what price would you offer for this property?

(I NEED ANSWER FOR 12 &13)