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A property produces a net operating income of $20,000 in year 1, $30,000 in year 2, and $45,000 in years 3 to 6. The resale

A property produces a net operating income of $20,000 in year 1, $30,000 in year 2, and $45,000 in years 3 to 6. The resale price is estimated using a terminal capitalization rate of 7% applied to the sixth year NOI. What is the value of the property using a 10% discount rate?

(Please do in excel)

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