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A propertys net operating income is expected to be $32,000, which is expected to stay constant for the foreseeable future. Using a discount rate of

A propertys net operating income is expected to be $32,000, which is expected to stay constant for the foreseeable future. Using a discount rate of 10%, estimate the propertys value.

a. $320,000

b. $400,000

c. $266,700

d. $350,000

e. $320,000

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