Please solve by showing steps clearly. Thank you

11.Bob buys a property that costs $5,000,000.

Year	NOI
1	$300,000
2	$315,000
3	$330,000

Bob will own the property for two years.

The NOI from the property for years 1-3 is to the right:

Bob will sell the property at the end of year 2 at a cap rate that is 50 basis points lower than the cap rate at which he bought the property.

Assume Bob finances his purchase with a 50% LTV Fixed Rate IO loan at an annual rate of 5% with annual compounding and annual payments. What is Bobs annualized IRR for the investment in question?

12.

Ann buys a property that costs $1,000,000.

She finances the purchase with a 80% LTV mortgage.

She gets a 20 year interest only fixed rate mortgage at an annual interest rate of 5%, with annual compounding and annual payments.

Ann must pay 1.5 points upfront in mortgage closing costs (as a % of the loan amount).

The loan has a 5/4/3/2/1 prepayment penalty structure (she must pay a 5% penalty if she prepays at any time in the first year, 4% penalty in the second year etc).

Suppose Ann will sell the property in 3 years, after her 3rd years mortgage payment and pay off the balance when she sells.

What is Anns annualized IRR for the loan in (2.2.a)?

13. Ann purchased a property for $1,000,000. She bought the property at a 6.00% cap rate.

She finances the purchase with an Interest Only senior loan at 50% LTV at an interest rate of 4.00%.

She also decides to get subordinate / mezzanine financing for 20% of the capital stack (from 50%-70% LTV) at 8.00% interest only.

What is the weighted average cost of Anns debt?