You are an employee of ABC Consultants LLC and have been given the following assignment. You are to present an investment analysis of a small retail income-producing property for sale to a potentlat investor. The asking price for the property is $1,400,000; rents are estimated at $179,200 during the first year and are expected to grow at 2.5 percent per year thereafter. Vacancies and collection losses are expected to be 10 percent of rents. Operating expenses will be 35 percent of effective gross income. A fully amortizing 70 percent loan can be obtained at 8 percent interest for 30 years (total annual payments will be monthly payments 12 ). The property is expected to appreciate in value at 3 percent per year and is expected to be owned for two years and then sold. Please provide detailed steps for your answer. Answers without explanation will NOT receive credit. 1. What is the first-year debt coverage ratio? (5 Points) 2. What is the terminal capitalization rate? (10 Points) 3. What is the investor's expected before-tax internal rate of roturn on equity invested (BTIRR)? (10 Points)