You own a rental property in Bloomington. You receive monthly rent of $$2,000$ every month of the year because there is no vacancy.

The fee you pay to your property manager, who manages the property for you, is $10\%$ of the monthly rent. Your property tax is $$5,600.$ You also have other expenses related to renting out this property of $$2,000.$ The property is valued at $$280,000.$

What's the cap rate of this property?

Group of answer choices

$8\mathrm{.}6\%$

None of the other options

$5\mathrm{.}0\%$

$3\mathrm{.}6\%$