need answers for both Q14 and 15. thanks

Commercial Real Estate Investment Bob buys a property that costs $1,000000 Bob will own the property for two years. The Nol from the property for years 1-3 is to the right: Year NOI 11 $100,000 2 $105,000 $110,000 3 Bob will tell the property at the end of year 2 at a cap rate that is 250 basis points lower than the cap rate at which he bought the property Use the above information for quation 014-15 14. Assume Bob does not use leverage. Find the NPV of Bob's investment if his discount rate is 20% 100,000 O 1,571,666.67 105,000 174,768.52 QUESTION 15 15. Assume Bob finances his purchase with a 50% LTV Fixed Rate 10 loan at an annual rate of 5% with annual compounding and annual payments. Find the NPV of Bob's investment if his discount rate is 20% 289,351.85 298,315.85 198,315.85 189,351,85