Please help and write out the equation!

2. (15 points) Suppose there is a "subject" property that yas an expected first year NOI of $35,000. There are four comparable properties - 11 of which were financed with 30 year fixed rate mortgages and 70% debt, 30% equity. The sale prices and estimated first year NOI for each are listed below: Comparable 1: Sale Price - $250,000, NO: $100,000 Comparable 2: 5ale Price - $236,000, NO1: $30,680 Comparable 3: 5ale Price $400,000, NOI: $28,000 Comparable 4: Sale Price - $350,000, NOI: $35,000 What is the indicated value of the subject property using direct capitalization? Write down any formula(s) you USE. PLEASE ROUND ALL DECIMALS TO 2 PLACES