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A property has a projected year 1 NOI of $200,000. NOI is projected to grow by 5% per year for the following 3 years, then

A property has a projected year 1 NOI of $200,000. NOI is projected to grow by 5% per year for the following 3 years, then by 4% per year for the subsequent 2 years and by 3% constant rate afterward. Given a required return of 15%, what is the value of the property?

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