Using the expected cash flows given above, what is the present value of the equity, Ve, if purchased using a mortgage if estimated using discounted cash flow (DCF) approach? Assume the overall required return unleverechis 8 percent; the required return of the equity investor if levered is 15 percent; the "going-in" capitalization rate, Ro, is 5.5 percent; the terminal capitalization rate, Rt, is 6.0 percent; and a five-year holding period. (in two decimal places X.XX)