Answer questions 22 please

An investor is considering the purchase of a 11.000-sq. ft. warehouse that is expected (based on comparable properties) to command $8.40 per square foot in annual rents. The two comparable warehouses have recently sold in the market. Comparable 1 measures 12,000 sq. ft. and sold recently for $450,000. Comparable 2 measures 8, 600 sq. ft. and sold recently for $322, 500. Compute the gross income multiplier that is implied by these transactions and estimate the value of the subject property. Suppose the investor in the previous problem is concerned that the subject property may be more expensive to operate than the comparable properties. Analysis of the operating expenses for each of the properties reveals the following net income estimates: Subject Property$52, 400 Comparable 1 $65, 600 Comparable 2 $47,000 Compute the capitalization rate implied by these transactions to estimate the value of the subject property by the net income capitalization technique