QUESTION 11 Given the following information, calculate the estimated first-year net operating income(NOI) for this office building using below-the-line treatment of capital expenditures and assuming no miscellaneous income: Lot size: 1.1 acres Rentable square footage (RSF): 18,000 SF Market rent: $26/SF/year Vacancy and collection loss: 8% of potential gross income Operating expenses: 33% of effective gross income Capital expenditures: 11% of effective gross income O $20,093 O $288,475 O $241,114 O $597,992