PLEASE ANSWER IN EXCEL THANKS! Part $1-$ Direct Capitalization In the first part of the assignment, you will apply the direct capitalization method to value an income$-$producing property. Use the following assumptions to value the property.Acquisition Assumptions$*$ Purchase Price: $$1,500,000$Operating Assumptions$*$ Vacancy and Collection Loss $($V$/$L$)$ as a $\%$ of PGI: $4\mathrm{.}00\%*$ Operating Expenses $($OpEx$)$ as a $\%$ of EGI: $25\mathrm{.}00\%*$ Capital Expenditure $($CapEx$)$ as a $\%$ of EGI: $3\mathrm{.}00\%$Exit Assumptions$*$ Exit Cap Rate: $5\mathrm{.}50\%*$ Sales Costs: $3\%*$ Year $2$ NOI $$97,000$Note: rent roll assumptions are already in the Excel Template.