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Please solve the below problem in Excel

__Question # 1__

Property is 10,000 square feet

Rent is $20 per square foot and increases $2 per annum

Vacancy and Collection is 5% of PGI

Real Estate Taxes are $30,000 in year 1 and increase 5% per annum

Operating Expenses are $15,000 in year 1 and increase $2 per square foot per annum

Management is 5% of EGI

Discount Rate is 10%

Capitalization Rate is 8%

There is also a $500,000 mortgage in the property with an interest __only__ rate of 7%.

Please calculate the net cash flows of the subject property for all years and assume that it is sold at the end of the 5^{th} year.

Please calculate the Net Present Value (NPV) of the net cash flows generated by the property for years 1 thru 5 __only. __Use a 5^{th} year reversion value

Please calculate the IRR of the investment assuming it is sold in the 5^{th} year. The year 0 purchase price is $1,000,000