Question 5 (1 point) Using the following information, compute net operating income (NOI) for the first year of operations. Use an "above-line" treatment of capital expenditures. Number of apartments: 10 Rent per month per apartment: $800 Expected vacancy and collection loss: 5 percent Annual maintenance: $12,000 Annual depreciation: $6,000 Property taxes: $4,000 Property insurance: $5,000 Management: $6,000 Capital expenditures: $5,000 Income taxes: $9,000 Other operating expenses: $3,000 Annual mortgage debt payments: $14,000 va) $27.200 Question 6 (1 point) What is the present value of the following series of cash flows discounted at 18 percent: $45.000 now: $60.000 at the end of the first year: $70,000 at the end of year the second year; $0 at the end of the third year; and $95,000 at the end of the fourth year? a) $165,356,20 b) $172,830.76 O c) $195,120.31 > d) $203,940.30