A class "C" bed and breakfast in Twilight City is for sale. Based on its average daily rates and operating and other expenses projections, it is estimated that next year it will produce $85,000 in net operating income. This income is then expected to grow by 5% per year indefinitely. An out-of-town investor is considering buying the property and selling it 10 years from today. Investor's required return is 15%. Calculate the estimated resale price.