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A property produces a first - year net operating income of $ 7 5 , 0 0 0 . The property can be purchased with

A property produces a first-year net operating income of $75,000. The property can be purchased with a loan equal to 80% of the value. The loan has an interest rate of 10% and monthly payments over a 25-year term. Equity investors expect an 8% equity capitalization rate. What is the value of the property?
$781,250
$892,857
$726,496
$874,036

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