We just signed a lease contract in a $200,000$ SF office building complex for $$25/$SF$/$year with rents paid in arrears $($at the end of the year$)$ annually. The rent will increase by $3\%$ per year. The discount rate is $10\%/$year$.$

a$.$ What is the value of this office building, assuming that the building is sold at the end of year $10$ and the cap rate at that time is expected to be $10\%?$ What is the cap rate at time $0?$ b$.$ What is the value of this office building, assuming that the building is sold at the end of

year $10$ and the cap rate at that time is expected to be the same as today? What is the cap rate at time $0$ and $10?$