8. Whiz-key Beverage, LLC plans to build a new warehouse to age their product (21 days, their motto is "No drinking under 21"). They expect annual income of $144 million from savings on rent, $120 million in increased sales, and $16 million from storing non-competitors products. The warehouse estimate is $400 million in material costs, $100 million for the land, and $110 million for labor expenses. There are no other expenses to consider. What is the anticipated annual net income from this expansion? 9. X-ray Zappomatic submits the following information to a bank about a potential project: Construction cost $100M, annual income $400M, annual expenses $350M, amount to be financed at 5% interest = $80M, desired rate of return of 9%. The bank's regulations prohibit loan-to-value ratios of over 80%. What is the capitalization rate and economic value for this project? Should the bank make the loan under these conditions? Explain your