Question: Could I please have step by step and explain the formulas that go into this. Question 4 The equity REIT A currently trades at $120/share.

Could I please have step by step and explain the formulas that go into this.

Question 4

The equity REIT A currently trades at $120/share.

the realized rate of return on A has been 10%,

and A's cap rate at the beginning of year was 13%.

REIT A distributed all of its NOI in the past year to its shareholders in the form of dividends.

What was the trading price of A at the beginning of 2005?

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