8. Use this data to answer questions 8 and 9. Jensen Development Company has the following data for development of a shopping center; gross square feet of 100,000, effective gross income of $25 per sq. ft., with gross full-service leases, operating expenses at $10 per sq. ft., total construction costs of $16 million and a post construction appraised value at a 6% cap rate. The stabilized return on total cost is?

A. 7.1%

B. 6.0%

C. 6.4%

D. 9.3%

9. The projected profit on the development is?

A. $9,000,000

B. $1,000,000

C. $16,000,000

D. $25,000,000