What is the yield-on-cost of this project? (Hint: the yield-on-cost uses the total cost of the project including land, and interest cost) GSF 28,000 NRA 26,600 Design Efficiency 95% PGI 532,000.00 $20.00 EGI 478,800.00 90% NOI 478,800.00 Going-out cap rate 7.0% Project sale 6,840,000.00 Total Construction Cost 2,800,000.00 $100.00 Land 5,000,000.00 $100.00 50,000 Total Project Cost 7,800,000.00 Debt 3,900,000.00 50% Equity 3,900,000.00 Debt Interest 152,100.00 6.00% 0.65 1 Equity cash flow at sale 2,787,900.00 Equity rate of return -28.5% Not feasible Hurdle rate 15%