16. If you are given that the sales price of a comparable property is $1,000,000 and the NOI for the first year is estimated to be $100,000, the capitalization rate is: a 0.01 b. 0.10 C. 1.00 d. 10.00 17. If you are given that the NOI for the first year of a subject property is $200,000 and the capitalization rate is 0.20, then the estimated value of the subject is: a. $40,000 b. $400,000 C. $1,000,000 d. $2,000,000 18. Suppose your subject property is a vacant lot that is rectangular in shape and it has a frontage of 100 feet and a depth of 200 feet, the lot areas in square feet of the subject property is: a. 20 b. 200 C. 2,000 d. 20,000 19. For a given year, suppose you estimate EGI to be $500,000 and OE (operating expenses) to be $200,000, then NOI is: a. $30,000 b. $70,000 C. $300,000 d. $700,000 20. Suppose you forecast the following for future sale of your completed development project FSP = $10,000,000, SE = $300,000, ME (including OBM and Prepayment Penalty) = $5,000,000, then BTER is: a. $4,700,000 b. $5,000,000 C. $9,700,000 d. $10,000,000