Answer Questions Part A To Part B Aztec REIT reports a net operating income of $15.25 and a GAAP Net Income of $9.75 per share. The REIT also reports a depreciation expense of $2.50 per share. Aztec did not have any gains from the sale of real estate. Its properties are mainly apartments, and you believe apartments are currently selling for a 6.25 percent blended cap rate. Aztec has 1 million shares outstanding, and its balance sheets shows liabilities of $65 million. Comparable REITs have FFO multiples of 15. Aztec is expected to pay a dividend during the next fiscal year of $8.75 per share and to increase those dividends at about 3.1 percent per year in the future. Assume investors in REITs like Aztec require a return of 7.8 percent. A) (Show All Your Works For Your Calculations) What is the FFO and value per share based on the FFO multiple? B) (Show All Your Works For Your Calculations) What value per share is indicated using a dividend discount model