2. Calculate the Value of an asset, assuming the NOI is $140,000 per year for 12 years with the first cash flow at the end of year 1. The value of the asset will increase by 80% over the 12 years. The discount rate is 14%. (hint: V= (PV of PMTS) + {(1+increase in value)/(1+discount rate)^N } times V.)

A. $1,063,438 B. $1,196,421 C. $1,265,085 D. $1,488,866