Your company, Corporation, owns and operates apartment complexes in the NJ area. One of your companys properties, West Concord Apartments, was just purchased by your firm for $2,200,000. The property is composed of 9 luxury apartments each of which are rented out for $2000 per month. (All units are currently rented out under long-term leases) Operational costs for the entire apartment complex amount to $11,500 per month. Your firm expects to be able to reinvest the monthly net income from the property at an annual reinvestment rate of 3% over the next 12 years. At the end of that 12 year period your company intends to sell the property for $3,500,000. Based upon this information, calculate your companys Horizon Yield (i.e., annualized Holding Period Yield) for this investment. (Walk yourself through the 5-step process to calculate the Horizon Yield, labeling each step)