NOI $$72,000$ $$74,880$ $$77,875$

DS $60,00060,00060,000$

Cash flow $$12,000$ $$14,880$ $$17,875$

Resale in year $3900,000$

Less mortgage balance $-435,000$

Total cash flow $$12,000$ $$14,880$ $$482,875$

Present value of cash flow @ $15\%$ $$10,435$ $$11,251$ $$317,498$

Consider the table above for a hypothetical income property that is under consideration for purchase with a $$455,000$ loan. Using the principles of mortgage equity capitalization, what is the estimated total property value $($rounded to the nearest $$100)?$