italization? 7. You are estimating the market value of a small office build- ing. Suppose the estimated NOI for the first year of opera- tions is $100,000. a. If you expect that NOI will remain constant at $100,000 over the next 50 years and that the office building will have no value at the end of 50 years, what is the present value of the building assuming a 12.2% discount rate? If you pay this amount, what is the indi- cated initial cap rate? b. If you expect that NOI will remain constant at $100,000 forever, what is the value of the building assuming a 12.2% discount rate? If you pay this amount, what is the indicated initial cap rate? c. If you expect that the initial $100,000 NOI will grow for- ever at a 3% annual rate, what is the value of the build- ing assuming a 12.2% discount rate? If you pay this amount, what is the indicated initial cap rate