Information: GPI = $1,250,000 with a growth rate per year of 1% V&C = 5% of GPI and Operating Expenses = 16% of GPI Loan terms are: 3.6%, 30 years (monthly compounding), LTV=80% Appreciation Rate = 1% per year and the holding-period is 2 years IRR to the developer is 20% A. Present Value Approach: (1) Calculate the WACC: - BoC (2) Calculate the Present Value of NOI: N=2 (3) Calculate the Present Value of the Reversion n=2 (4) Appraised Value