Assume first$-$tier $("$class A$")$ apartment properties in a market are selling at cap rates of

$4\mathrm{.}0\%.$ Assume third tier $("$class C$")$ apartment properties in the same market are selling at

$6\mathrm{.}5\%$ cap rates. Which of the following statements is true?

First$-$tier properties are selling for $37\mathrm{.}5\%$ more, per square foot, than third$-$tier properties

First$-$tier properties are selling for $62\mathrm{.}5\%$ tess, per dollar of first year NOI, than third$-$tier properties

First$-$tier properties are selling for $62\mathrm{.}5\%$ more, per square foot, than third$-$tier properties

First$-$tier properties are selling for $62\mathrm{.}5\%$ more, per dollar of first year NOI, than third$-$tier

properties

There is not enough information to determine the extent to which the selling prices of first$-$tier

properties typically vary from third$-$tier properties