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The sale prices (SP) and estimated first-year NOI for each of four comparable properties (to one another and the property being considered) are as noted:

"The sale prices (SP) and estimated first-year NOI for each of four comparable properties (to one another and the property being considered) are as noted: SP1 $200,000 (NOI 19,000); SP2 $300,000 (NOI 26,000); SP3 $400,000 (NOI 52,000); SP4 $500,000 (NOI 65,000). Calculate the overall capitalization rate by direct market extraction. Indicate to the nearest tenth of a percent (e.g., 10.2)"

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