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A property has projected year one NOI of 150,000. NOI is projected to grow by 6% for the next 2 years, 3% the following two

A property has projected year one NOI of 150,000. NOI is projected to grow by 6% for the next 2 years, 3% the following two years and at a constant growth rate of 2% afterword. If the investor has a required rate of return of 12% what is the value of the property using the income approach?

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