2. Gator Investment Company is considering the purchase of an office property. Annual NOI will be as follows: Year NOI 1 $1,000,000 2 $1,000,000 3 $1,200,000 4 $1,250,000 5 $1.300,000 6 $1,350,000 It is further expected that beginning in year 5 and every year thereafter, NOI will tend to reflect a stable, balanced market and should grow at 3 percent per year indefinitely. Gator Investment company believes that investors should earn a 12 percent return (r) on an investment of this kind. Assuming that the investment is expected to produce NOI in years 1-6 and is expected to be owned for five years and then sold, what would be the value for this property today