Complete the underwriting assignment given in the pictures using Excel. Please underwrite this deal given the description on the $1$st picture and use the assumptions on the following picture to assist in the underwriting process. Please include the following return metrics on a consolidate summary page for both a Merchant Build & $10-$ Year Hold Scenario:

$-$ Yield on Cost

$-$ Unlevered IRR, Equity Multiple and Net Profit

$-$ Levered IRR, Equity Multiple and Net Profit

There should be a $3$rd image but it won't let me upload it$.$ This is what it says:

Budget Line, Item Cost, PSF

Purchase Price, $$25,000,000,$ $$88\mathrm{.}92$

Diligence & Closing Costs, $$586,987,$ $$2\mathrm{.}09$

Demolition Costs, $$1,120,625,$ $$3\mathrm{.}99$

Hard Construction Costs, $$21,750,334,$ $$77\mathrm{.}36$

Architectural & Engineering Costs, $$720,760,$ $$2\mathrm{.}56$

Testing & Inspection Costs, $$231,951,$ $$0\mathrm{.}83$

Permits & Fees Costs, $$1,648,310,$ $$5\mathrm{.}86$

Legal & Closing Costs, $$225,000,$ $$0\mathrm{.}80$

Marketing Costs$*,$ TBD$,$ TBD

Financing & Interest Costs$*,$ TBD$,$ TBD

Other $($Incl$.$Gen Contingency$),$ $$3,367,787,$ $$11\mathrm{.}98$

Totals, $$54,651754,$ $$194\mathrm{.}39$

$*$Budget line item not included and will need to be determined given assumption from prior page and incorporated into budget