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A property produces a first-year NOI of $100,000, expected to grow by 2 percent annually. If the property is expected to be sold in Year

A property produces a first-year NOI of $100,000, expected to grow by 2 percent annually. If the property is expected to be sold in Year 10, what is the estimated current value of the property? Assume that the risk-adjusted discount rate for the NOI is 14% and the terminal capitalization rate is 9%.

The answer is 924,671 but I don't know how to solve it.

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