Consider an investment in which a developer plans to begin construction of a building that will cost $$1,000,000$ in one year if$,$ at that point, rent levels make construction feasible. There is a $50$ percent chance that NOI will be $$160,000$ and a $50$ percent chance that NOI will be $$80,000.$ Assuming a cap rate of $10$ percent $(12$ percent discount rate and an NOI growth rate of $2$ percent$)$ what would the land value be at the completion of the construction under the real options approach? $($compute your answer using $4$ decimals and round your final answer to whole numbers$)$