4 Suppose the NOI for a small property is expected to be $50000 for the first year. Financing will have an 11 percent interest rate and will be amortized over 20 years with monthly payment. The investor expects to hold the property for five years with a 12 percent rate of return. The growth rate of NOI after 5 years is 1%. This terminal capitalization rate of the 6th year is 11%. (10marks) Please value the property according to the following data. 1 year | 2 | 3 | 4 | 5 | 6 Net Operating Income 57,964 50,000 41,667 51,500 41,667 53,045 41,667 54,636 41,667 56,275 41667 Debt Service