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Analysis of Property with Level Income and Change in Value: A property has an income that doesn't increase but it is expected to increase a

Analysis of Property with Level Income and Change in Value: A property has an income that doesn't increase but it is expected to increase a 11% in value in the next 5 years. If the yield rate of this property is 11%, what is the cap rate for this property? (The correct answer is 9.23%, please show through step-by-step explanation, and please no excel). Thanks!

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