Question: please answer all these questions 1. Using the price data for several houses recently sold in a particular area, a real estate firm has identified

1. Using the price data for several houses recently sold in a particular area, a real estate firm has identified the main characteristics that affect the prices of houses in that area. The characteristics identified include the living area, the number of bathrooms, whether the house has a fireplace, and how old the house is. The estimated slope coefficient for each of these characteristics and the constant term are as follows: Use these above estimates to value a five-year-old house with a living area of 500 square meters, three bathrooms, and a fireplace. A real estate firm is evaluating an office building using the income approach. The real estate firm has compiled the following information for the office building. All information is on an annual basis. There have been two recent sales of office buildings in the area. The first building had a net operating income of $500,000 and was sold at $4 million. The second building had a net operating income of \$225,000 and was sold at \$1.6 million. a. Compute the net operating income for the office building to be valued. b. Use the income approach to compure the appraisal price of the office building
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