A real estate investment is expected to return to its owner $32,000 per year for 16 years after expenses. At the end of year 16, the property is expected to be sold for $480,000. Assuming the required rate of return is 8% for investments with this degree of risk, what is the net present value of this property if the down payment is $380,000 today? $172,949 $580,000 $43,351 O $72,824 $32,973