A building has Ground floor and 3 upper floors. There are 6 tenants per floor. Ground floor tenants pay rent of $600 /month for each flat. Upper first floor, second floor and third floor tenants, pay rent of $650/ month per flat, $700/ month per flat and $750/ month per flat respectively. Property taxes are $4000 per 6 months. Other tax is $800 year. Building Insurance premium is $950/ year. Sweeper salary is $300 /month. Common light bill is $125/ month. Calculate market value of the property if expected rate of return on investment (Capitalization rate) is 7%. Collection \& Management charges are $2500 /year