An income-producing property is expected to yield NOI of $100,000 in each of the next five years, with cash flows being received at the end of each period. At the end of the fifth year the property...

Extracted text: An income-producing property is expected to yield NOI of $100,000 in each of the next five years, with cash flows being received at the end of each period. At the end of the fifth year the property will be sold; the owner wishes to use a going-out cap rate of 7.3% for this transaction. For a cost of capital of 9.5 % annually, what is the value of this property today? Your Answer: