Question: Answer the question from the following data. You are negotiating the entitlements with the County and currently have the following approvals and project data, land

Answer the question from the following data. You are negotiating the entitlements with the County and currently have the following approvals and project data, land of 100,000 sq. ft., gross square feet of building at 300,000 sq. ft., hard and soft costs at $500 per sq. ft., a land value at $30 per sq ft. and a stabilized NOI of $10 million. What is the return on cost of the project?

A. 6.07%

B. 6.25%

C. 6.875%

D. 6.53%

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