4. Using the Lease Analysis Tool, please compare the following two tenants: If both have commencement dates of January 1, 2023 and CY 2023 expenses are projected to be $14.00 psf (assume operating expenses increase 3\% per year), please calculate the NPV from cash flows for each using an 8% discount rate (Commissions are $1.00/sf/yr for Tenant broker, $0.50/sf/yr for Landlord broker and no moving allowance) If the owner is considering a sale after 2 years and the property has a projected cap rate of 5.5%, which is the better option? If Landlord is a long term holder, which is the better option