please calculate overall cap rate or return for first year of operation. pleas show steps. thank you.

13) Proportion by which property is expected to appreciate during the holding period-5% a year 14) Estimated selling expenses as proportion of future sales price-5% 15) Marginal income tax rate for the client-28% 16) It is assumed that the property is put into service on January Ist and sold on December 31st 17) Assume the client is "active" in the property management 18) It is assumed that the client has an adjusted gross income of $95.000 and has no other passive income not offset by other passive losses (for each year of the anticipated holding period) 19) Client's minimum required after tax rate of return on equity-11% b. For the first year of operation the: (1) Overall (cap) rate of returrn