I need a full explanation of how you get the BTIRR number? I don't need just the answer, I want to see the work and how did you do it. if you use the excel sheet, show me everything and be as simple as you can and start every number you put. I really need to understand this thank you in advance. again I only need part C, the BTIRR.

this is the data

b. What is the terminal capitalization rate? c. What is the investor's expected before-tax Internal rate of return on equity invested (BTIRR)? Problem 11-2 Sood You are an employee of University Consultants, Ltd., and have been given the following assignment. You are to present an investment analysis of a new small residential income-producing property for sale to a potential investor. The asking price for the property is $1,250,000; rents are estimated at $200,000 during the first year and are expected to grow at 3 percent per year thereafter. Vacancies and collection losses are expected to be 10 percent of rents. Operating expenses will be 35 percent of effective gross income. A fully amortizing 70 percent loan can be obtained at 11 percent interest for 30 years (total annual payments will be monthly payments 12) The property is expected to appreciate in value at 3 percent per year and is expected to be owned for five years and then sold -Book a. What is the first-year debt coverage ratio? rences b. What is the terminal capitalization rate? c. What is the investor's expected before tax internal rate of return on equity invested (BTIRR)? d. What is the NPV using a 14 percent discount rate? S e. What is the profitability index using a 14 percent discount rate