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A property was purchased 5 years ago ( considered as Year 0 ) for $ 1 million and generated NOI of $ 6 5 ,
A property was purchased years ago considered as Year for $ million and generated NOI of $ in Year The NOI will increase at per annum. If the forward cap rate of the property has risen by today compared to years ago, what price would a potential buyer have to pay for the property now, if they used forward cap rates to do the valuation exclusively? Choose the closest number.
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