$5.$ An office building is purchased with the following projected cash flows:

$$ NOI is expected to be $$130,000$ in year $1$ with $5$ percent annual increases.

$$ The purchase price of the property is $$720,000.$

$100\%$ equity financing is used to purchase the property

$$ The property is sold at the end of year $4$ for $$860,000$ with selling costs of $4\mathrm{.}00\%.$

$$ The required unlevered rate of return is $14\mathrm{.}00\%.$

a$.$ Calculate the unlevered internal rate of return $($IRR$).$

b$.$ Calculate the unlevered net present value $($NPV$).$