Use the following information to answer the next five questions. You are considering the purchase of a medium-sized shopping center for $18,000,000. The NOI in year 1 is expected to be $1,500,000, and it will grow at 5.5% every year thereafter. You intend to hold this property for 5 years, and you expect the terminal capitalization rate to be 8%. Selling expenses will be 3.5% of the sale price, and the appropriate discount rate for this property is 15%. Question 27 What is the present value of the net sale price? O $10,223,600 O $11,144,208 O $11.757,140 O $13,563,230 O $17,101,294 Question 31 In percentage terms, how much of the return is driven by the sale of the property? O 64% O 68% 0 72% O 76% O 80%