Question: Consider a property with expected future net operating income (NOI) next year of $900,000. NOI growth rate in years 2-5 is 5%, while NOI growth

Consider a property with expected future net operating income (NOI) next year of $900,000. NOI growth rate in years 2-5 is 5%, while NOI growth rate in years 6-10 is 4%. After year 10, the income growth rate is 3%. You expect to sell the property at the end of year 10. If at end of year 10 going out cap rate is 6.5%, what is the selling price of the property at the end of year 10 (V10)?

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