During the remaining term of the lease, there will be no vacancy and collection losses; however, upon termination of the lease it is expected that the property will be vecant for three months. When the property is released under short-term leases, with tenants paying all expenses, a vacancy and collection loss allowance of 8 percent per year is anticipated The current market rental for properties of this type under triple net leases is $11 per sq. ft. and this rate has been increasing at a rate of 3 percent per year. The market discount rate for similar properties is about 11 percent, the "going in cap rate is about 9 percent, and terminal cap rates are typically 1 percentage point above going in cap rates Required: Prepare a spreadsheet showing the rental income, expense reimbursements, NO, and net proceeds from sale of the property at the end of an eight-year holding period. Then use the information provided to estimate the market value of the property (Round your final answers to nearest whole dollar amount.) Contract t Market LIVO Cective Os inc Less Operating expe Net Operating c Y.2 Yx. 3 TL4 Ye. 8 hdding po Ye7 Y Ye