$10.$ You are analyzing a $48-$unit Apartment property for potential acquisition. The rent roll is below: Unit Type # of Units Monthly Rent Projected Vacancy Studios $15$ $$1,10010\%1$ Beds $20$ $$1,4004\%2$ beds $13$ $$1,8004\%$ Additional Information: $$ Purchase price: $$7,900,000$ Acquisition costs: $$0\mathrm{.}00$ Other Income: $$0\mathrm{.}00$ Year one operating expenses: $$228,144$ Net Operating Income annual growth rate: $3$ percent $$ Projected end of year five sale price: Capitalize year six NOI at $7\mathrm{.}00$ percent $$ End of year five cost of sale: $5$ percent of sale price $$ Anticipated holding period: Five years Following are the loan terms from Mega Bank: $$ Maximum loan$-$to$-$value $($LTV$)$ ratio: $70$ percent $$ Minimum debt$-$service coverage ratio $($DSCR$)$: $1\mathrm{.}2$ Interest rate: $6$ percent $$ Amortization period: $25$ years, Monthly Payments $$ Loan term: $7$ years $$ Loan costs: $2$ percent of loan amount Answer the following: $1.$ What is the IRR Before Tax on Equity for a $5$ year hold? $\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_(5$ points$)2.$ What is the Acquisition Cap Rate? $\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_(5$ points$)3.$ Lenders Yield assuming a $5$ year hold. $\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_(5$ points$)$