Given the following data and rent roll, project the NOI of the building for the years 2021, 2022 and 2023. Please make your calculations to the right of the data and rent roll on this worksheet. Upload your file onto Moodle by the deadline indicated on the course outline. note: It is anticipated that this lease will not be renewed. The unit will be vacant for 2 months. The new lease will have a free rent period of 1 month and a base rent (gross) of $60/sq ft Projected inflation (CPI) 2021 2022 2023 1.0% 2.0% 3.0% Expenses for 2020 Property taxes Insurance Maintenance & operations Security Snow removal Utilities Depreciation 600,000 50,000 300,000 75,000 35,000 350,000 50,000 Retail sales for Unit 1 in 2020 2,000,000 RENT ROLL Floor 1 Unit number Space vocation Lease start Lease end Lease type Square footage Rent/sq ft Unit 1 Retail 2017-01-01 2026-12-31 Triple Net 23,000 2021 25 5% 500,000 2022 25 5% 510,000 2023 26 5% 520,000 Percentage factor Breakpoint Common Area 2,000 Floor 2 Unit number Space vocation Lease start Lease end Lease type Square footage Rent/sq ft Unit 2 Office 2017-01-01 2026-12-31 Gross 14,000 2021 50 2022 +CPI 2023 +CPI Unit number Space vocation Lease start Lease end Lease type Square footage Rent/sq ft Unit 3 Office 2017-06-01 2027-06-01 Triple Net 10,000 2021 21 2022 21 2023 22 Common Area 1,000 Floor 3 Unit number Space vocation Lease start Lease end Lease type Square footage Rent/sq ft Unit 4 office 2015-01-01 2022-12-31 Gross 25,000 2021 50 2022 50 2023 NOTE 1 TOTAL LEASABLE TOTAL COMMON TOTAL BUILDING 72,000 3,000 75,000