Given the following information, calculate the capitalization rate (or "cap rate") for this apartment complex using above-the-line treatment of capital expenditures and assuming no miscellaneous income: Number of apartment units: 15 Market rent (per month): $1,000 per unit Vacancy and collection loss: 10% of potential gross income Operating expenses: 5% of effective gross income Capital expenditures: 10% of effective gross income Acquisition price: $1,710,000