You are considering a luxury apartment building project that requires an investment of $12, 500,000. The building has 50 units. You expect the maintenance cost for the apartment building to be $250,000 the first year and $300,000 the second year, after which it will continue to increase by $50,000 in subsequent years. The cost to hire a manager for the building is estimated to be $80,000 per year. After five years of operation, the apartment building can be sold for $14,000,000. What is the annual rent per apartment unit that will provide a return on investment of 15cb after tax? Assume that the building will remain fully occupied during the five years. Assume also that your lax rate is 35%. The building will be depreciated according to 39-year MACRS and will be placed in service in January during the first year of ownership and sold in December during the fifth year of ownership. Declining Balance with alpha 7%