(18) You own an apartment complex with 40 units. All units are occupied. The monthly rent for 15 units is $1,100 per unit, and the monthly rent of the other 25 units is $1,400 per unit. The total maintenance cost is $3,000 per month for the entire complex. The property tax is $200 per month for the entire complex. Assume there are no other costs and also no changes in the rent, the maintenance cost, and the tax. The units are always occupied. You will collect the monthly rents and pay the maintenance cost and the tax on the first day of each month. Assume you will receive and pay the first cash-flows (rent + maintenance cost+ tax) in one month from now. Assume the apartment complex lasts forever and so do the cash-flows. The discount and interest rate is 0.2% per month, compounded monthly, what is the present value of the net cash-flows from the apartment complex? In other words, how much you can ask for this property if you want to sell it. (Hint: This is a perpetuity. PV-C/r) 1. $20,150,000 2. $21,150,000 3. S22,150,000 4. $23,150,000 5. $24,150,000