$$65$M $1$st mortgage with Fannie Mae

$$20$M Class A equity fund investors

$$10$M Class B equity firm investors

$$5$M Class C firm managing partners

$$100$M Budget for multifamily acquisition and rehab

NOI forecast: Year $1=$ $$7\mathrm{.}15$M$,$ Year $2=$ $$7\mathrm{.}65$M$,$ Year $3=$ $$8\mathrm{.}15$M

Operation rules: All returns are annual, non$-$cumulative.

$1$st: Debt service to Fannie Mae at $5\%$ interest only

$2$nd: Class A $8\%$ preferred return

$3$rd: Class B $8\%$ catch$-$up return

$4$th: Class A$,$ Class B$,$ Class C split $30/30/40$ until Class C achieves $12\%$ return

$5$th: Class A$,$ Class B and Class C split $25/25/50$

Reversion rules:

$1$st: Repayment of the loan

$2$st: Return of capital to all parties pari$-$passu

$3$rd: Class A$,$ Class B and Class C split $25/25/50$ respectively

Above: what NOI does Class C achieve a higher return than Class B investors, expressed in millions, rounded to nearest hundred decimal place. Hint: Trial and error is probably the easiest way to find this.