12. In an attempt to figure out how much you should pay for a house, you perform a valuation. You estimate that the going rent for the house will be $12,000 on an annual basis, which you expect to increase by 3 percent each year. Considering other similarly risky investments, you calculate a discount rate of 13 percent. For the sake of convenience, assume the house will last forever (there's typically not much difference between this and twenty to thirty years of cash flows). The maximum you are willing to pay for this house would be $ (in units and no 1000 separators)