29) You're considering buying an apartment in Astoria, Queens. A similar, but less updated, apartment recently sold for $850,000 and subsequently rented for $2034/month. You think the apartment you are thinking of buying would rent for $2,400. Using the DCF valuation approach, compute the value of the apartment you're considering. State your answer as a number rounded to two decimal points (e.g. if your answer is $500899.934, write 500899.93) Hint: compute the gross rent mutiplier using the comparable property and apply it to the property you're interested in buying.