Bob purchased a property for $6,500,000 at a 5.50% cap rate. At the time of purchase, there were 15 years remaining on the lease with 7.50% rent increases every 5 years. Bob purchased the above property at 65% LTV, 25-year amortization schedule, 10-year term, and at a 4.50% interest rate.

What is Bobs cash on cash return as a percentage in year 5?

Two decimal points, round up, include % sign. (ex: 99.99%)