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A 1 1 5 - unit property is advertised as having a net operating income of $ 3 , 1 4 8 , 5 7

A 115-unit property is advertised as having a net operating income of $3,148,572 per year and is offered for sale at a capitalization rate of 4.30%. What is the estimated value of the property?
a. $488,028,660
b. $15,569,689
c. $73,222,605
d. $636,718
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