Use the information provided below to estimate the market value of the office building that has been described. Type of Property Office Building Leasable Space 100,000 square feet Average Rent $20.00 per square foot per year Expected Rent Growth 4.50% per year Vacancy and Collection Losses 15.00% of potential gross income Other Income $1.50 per square foot per year Expected Growth in Other Income 3.00% per year Operating Expenses 27.50% of effective gross income Capital Expenditures 2.50% of effective gross income Going-In Cap Rate 5.50% Going Out Cap Rate 6.25% Selling Expenses 4.00% of future selling price Discount Rate 6.75% Use the information provided below to estimate the market value of the office building that has been described. Type of Property Office Building Leasable Space 100,000 square feet Average Rent $20.00 per square foot per year Expected Rent Growth 4.50% per year Vacancy and Collection Losses 15.00% of potential gross income Other Income $1.50 per square foot per year Expected Growth in Other Income 3.00% per year Operating Expenses 27.50% of effective gross income Capital Expenditures 2.50% of effective gross income Going-In Cap Rate 5.50% Going Out Cap Rate 6.25% Selling Expenses 4.00% of future selling price Discount Rate 6.75%