how to solve this question, i want it to be solved in written not using excel or financial calculator, thank you

solve it with excel

2. An investor is considering the purchase of a small office building. The NOI is expected to be the following: Year 1, \$202,000; Year 2, \$212,000; Year 3,\$222,000; Year 4, \$232,000; Year 5, \$242,000. The property will be sold at the end of year 5 and the investor believes that the property value should have appreciated at a rate of 3 percent per year during the five-year period. The investor plans to pay all cash for the property and wants to eam a 10 percent return on investment (IRR) compounded annually. Required: a. What should be the present value of the property today? b. What should be the property value (REV) at the end of year 5 in order for the investor to earn the 10\% IRR? c. Based on your answer in ( b ), if the building could be reproduced for $2,320,000 today, what would be the underlying value of the land