Given the following information

1. Sales Price should be calculated using Year Net Operating Income capped at 5%

2. Cost of Sale is 5%

Question: What is the Projected Sales Price

Year	1	2	3	4	5	6
Potential Rental Income	1,080,000	1,112,400	1,145,772	1,180,145.16	1,215,549.51	1,252,016
Vacancy	54,000	55,620	57,288.6	59,007.26	60,777.48	62,600.8
Effective Gross Rent	1,027,600	1,058,412	1,090,148	1,122,835.83	1,156,503.93	1,191,181.73
Laundry Income (Other Income)	1,600	1,632	1664.64	1697.93	1,731.89	1,766.52
Collected Income	1,027,600	1,058,412	1,090,148	1,122,835.83	1,156,503.93	1,191,181.73
Operating Expenses	452,144	465,701.3	479,665.1	494,047.8	508,861.7	524,119.96
Net OperatingIncome	575,456	592,710.7	610,482.9	628,788.03	647,642.23	667,061.77