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A Property has an NOI of $100,000 upon purchase and is expected to grow 8% each year. Based upon a 5-year hold period, a 5.5%

A Property has an NOI of $100,000 upon purchase and is expected to grow 8% each year. Based upon a 5-year hold period, a 5.5% future cap rate and a required rate of return of 6% (unlevered), what is the maximum amount of money you are willing to pay for the property today? If possible, solve through excel formulas as well.

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