**please provide answer will all steps and explained details on how you got the finalized answer**

Use the information provided below to answer the question that follows: Project Type: Apartment Building Number of Units: 60 Expected Rent Per Unit Per Month: $2,000 Site Acquisition Costs: 8 acres@ $500,000 per acre Site Development Costs: 8 acres@\$100,000 per acre Hard Construction Costs: $130,000 per unit Soft Construction Costs: $25.000 per unit Vacancy Rate: Operating Expense Ratio: Debt Service Coverage Ratio: Interest Rate: 5% per year Amortization Period: 30 years Cap Rate for Apartment Buildings: 6% Required Return to Equity: 8% Is this project feasible according to the required rent approach