3. You have recently become the manager of a 100-unit apartment building. The monthly rent on each of these units is $500 and only one unit is vacant. Because the vacancy rate is so low (1%), you suspect that rents are too low. In developing a management plan for the property analysis of alternatives), you propose to raise rents by 5%. However, you anticipate that the vacancy rate will increase to 5% if you increase the rent by that amount. Operating expenses of $450,000 per year are expected to be unchanged, and the cap rate is 8% (.08). (6 points) Compute the following: a Current gross potential rental income (GPI) b. Current net operating income (NOI) c. Current estimated market value (V = 1/R) (Value - NOI/Cap Rate) d. Anticipated GPI after the change is implemented e. Projected rent loss due to vacancy f. Anticipated market value (V-I/R)