17. Based on your work in #15, calculate the expected ATCF, its std. Deviation, and a certainty equivalent cashflow [just for year2), if your highest calculated ATCF has a 25% probability, your lowest ATCF has a 15% probability, and the base case ATCF {ques #9) has a 60% probability. 18 Based on the Building information provided for questions 1-8, calculate for buildings A and D, a) the break-even number of units {per month} and the percent of maximum occupancy, b} the DOL for each building at 50% occupancy. cl Which building would be the better investment, based on your answers to a) and b) above. Explain. 19 You havejust leased a property to a tenant; the lease term is 8 years with beginning of month payments locked in for the first 5 years. Payments will increase for the last 3 year term. Market rates are anticipated to remain constant for the first 4 years, with a decrease for the remaining term. Based on information provided below, calculate the present value of the lease, from your perspective. Year 1-5 lease rate $1,700 per month Year 6-8 lease rate $1,400 per month Mkt rateer 1-4 51,500 per month Mkt rateer 5-8 51,500 per month Owner's IIYR 15% clm Tenant's IIYR 17% clm Value of property: (at end of lease term} land 8i bldg: $600,000 20 A property has recently been listed for sale. It is a 4 unit prefabricated commercial building that had been moved onto the lot. The building was purchased for $400,000. Using the land residual method, calculate the value of the land, according to Hoskell, and the value of the total property, given: Year 1 NOI: $87,000 safe rate: 8% regular rate: 11% holding period: 13 years