(3) Fill in the sheet titled "NPV-IRR". Ann will buy the property in 2023, she will collect NOI for 5 years 2024-2028, and she will sell it in 2029. Ann's loan has a 5/4/3/2/1 prepayment penalty structure, so if she prepays in the first year, she will pay a penalty equal to 5% of the balance, in the second year she will pay a penalty equal to 4% of the balance etc. Ann forecasts NOI will grow at 2% per year, compounded annually. Ann forecasts she can sell the property in 2029 at a 8.25% cap rate. Recall: Sale Price in 2029=caprate2019NOI2020 (3.a) How much will Ann sell the property for in 2029? (3.b) How much of a capital gain will Ann earn? (Hint: capital gain = sale price - purchase price) (3.c) What is Ann's IRR for this investment? (3.d) If Ann's discount rate is 25%, what is her NPV? Should she make this investment? (3.e) Plot Ann's NPV for discount rates 0\%-100\%. Copy and paste the chart below. \begin{tabular}{|c|c|c|c|c|c|c|c|c|c|c|c|} \hline Inputs & & Investment Analysis & & & & & & & & & \\ \hline Purchase Price & $10,004,529.41 & & & & & & & & & & \\ \hline Purchase costs & 3.00% & Year & 2023 & 2024 & 2025 & 2026 & 2027 & 2028 & 2029 & & \\ \hline Loan amount & $5,004,529.41 & & & & & & & & & & \\ \hline Loan Closing Costs & 1.65% & Purchase Price & & & & & & & & & \\ \hline Prepayment Penalty & 5%/4%/3%/2%/1%/0% & Purchase Costs & & & & & & & & & \\ \hline Debt Service & $8,503,850.00 & Loan Amount & & & & & & & & & \\ \hline NOI 2015 & $850,385.00 & Loan Closing costs & & & & & & & & & \\ \hline Going in cap rate 2023 & 8.50% & & & & & & & & & & \\ \hline NOI growth rate & 2.00% & Net Operating Income (NOI) & & & & & & & & & \\ \hline Exit cap rate 2029 & 8.00% & Debt Service Payment & & & & & & & & & \\ \hline \multirow[t]{32}{*}{ Selling Costs } & 7.00% & & & & & & & & & & \\ \hline & & Sale Price & & & & & & & & Capital Gain & $0.00 \\ \hline & & Selling Costs & & & & & & & & & \\ \hline & & Loan Balance Repaid & & & & & & & & & \\ \hline & & Loan Prepayment Penalty & & & & & & & & & \\ \hline & & & & & & & & & & & \\ \hline & & Net Cash Flow & & & & & & & & Sum of Net Cash flow & $0.00 \\ \hline & & & & & & & & & & & \\ \hline & & IRR & & & & & & & & & \\ \hline & & & & & & & & & & & \\ \hline & & & Discount Rate & NPV & & & & & & & \\ \hline & & & 0.00% & $0.00 & & & & & & & \\ \hline & & & 5.00% & $0.00 & & & & & & & \\ \hline & & & 10.00% & $0.00 & & & & & & & \\ \hline & & & 15.00% & $0.00 & & & & & & & \\ \hline & & & 20.00% & $0.00 & & & & & & & \\ \hline & & & 25.00% & $0.00 & & & & & & & \\ \hline & & & 30.00% & $0.00 & & & & & & & \\ \hline & & & 35.00% & $0.00 & & & & & & & \\ \hline & & & 40.00% & $0.00 & & & & & & & \\ \hline & & & 45.00% & $0.00 & & & & & & & \\ \hline & & & 50.00% & $0.00 & & & & & & & \\ \hline & & & 55.00% & $0.00 & & & & & & & \\ \hline & & & 60.00% & $0.00 & & & & & & & \\ \hline & & & 65.00% & $0.00 & & & & & & & \\ \hline & & & 70.00% & $0.00 & & & & & & & \\ \hline & & & 75.00% & $0.00 & & & & & & & \\ \hline & & & 80.00% & $0.00 & & & & & & & \\ \hline & & & 85.00% & $0.00 & & & & & & & \\ \hline & & & 90.00% & $0.00 & & & & & & & \\ \hline & & & 95.00% & $0.00 & & & & & & & \\ \hline & & & 100.00% & $0.00 & & & & & & & \\ \hline \end{tabular}