4) Jon Snow's worst fears are realized. Increasingly harsh conditions lead to lower occupancies and higher expenses, due mainly to higher utility expenses. Revenues drop by 5% a year after Year 1, and expenses increase by 3% a year after Year 1. At the end of Year 5 Jon Snow quits in frustration and sells the building to Dwight Walker for the same cap rate that applied when he inherited it. What does Walker pay for the building?