Question: Property 1 sold for $ 8 , 3 0 3 , 4 4 8 with an annual NOI of $ 1 , 2 0 4

Property 1 sold for $8,303,448 with an annual NOI of $1,204,000. Property 2 sold for $86,000 with an annual NOI of $12,040. Property 3 sold for $20,000,000 with an annual NOI of $2,760,000. Which of these properties generated the highest capitalization rate?

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