This residential development project consists of $20$ one$-$bedroom units, $40$ two$-$bedroom units, and $100$ parking spaces. The table below shows market

rents, vacancy rate, rent loss rate, operating expenses, capital expenditure allowance for the first year of operation, and expected annual growth rates

for the next $7$ years. The bottom part of the table lists the applicable income capitalization rates and development costs.

Question

$1.$ Develop $7-$year before$-$ and after$-$CAPEX operating cash flow projections.

$-$ Answer question using Excel formatting. A screenshot of your Excel page would benefit.