2. A property produces a first year NOI of $1,000,000 which is expected to grow by 2 percent per year. If the property is expected to be sold in Year 10. (20 points) Illustrate the projected cash flows on a timeline What is the expected sale price based on a terminal capitalization rate of 9.5% applied to the eleventh year NOI? Suppose that the property is sold today for 14,285,714. Illustrate the projected cash flows on a timeline What is the implied going-in cap rate using the given property cash flows and growth rates If we assume that property values compound at 1.5% per vear, what is the sale price? What is the going out cap-rate? Re-draw the cash flow timeline