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A property had' NOI of $ 1 , 2 0 0 , 0 0 0 in its first year ( Year 0 ) of its

A property had' NOI of $1,200,000 in its first year (Year 0) of its existence. Assume that its NOI grows by 4% in Years 1 and 2, by 3% in Year 3 and by 2% in 4. Using the required rate of return method with an expected return of 10%, what is the estimated value of the property assuming sale of the property at the end of Year 3?
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