An office building is purchased with the following projected cash flows: Net operating income (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 percent equity financing is used to purchase the property. The property is expected to be sold at the end of year 5 for $860,000 with selling costs of 4 percent. The required unlevered rate of return is 14 percent. a. Calculate the unlevered internal rate of return (IRR). b. Calculate the unlevered net present value (NPV).