Which of the following assertions is most likely to be true if a property is expected to have annual electricity costs of $10,000. Circle or highlight one answer. Assume CAPX is an above-the-line expense.

A. CAPX associated with this situation used to compute NOI would be $0 in year 1, $0 in year 2, $0 in year 3, and $0 in year 4

B. CAPX associated with this situation used to compute NOI would be $0 in year 1, $0 in year 2, $0 in year 3, and $40,000 in year 4

C. CAPX associated with this situation used to compute NOI would be $10,000 in year 1, $10,000 in year 2, $10,000 in year 3, and $10,000 in year 4

D. CAPX associated with this situation used to compute NOI would be $10,000 in year 1, $10,000 in year 2, $10,000 in year 3, and $40,000 in year 4

E. None of the above assertions are true