An apartment complex has $100$ units of which on average $5$ are vacant at any given time. Per unit, the rent is $$1000$ per month, and the operating expenses paid by the landlord $($including realistic capital reserve$)$ average $$5000($per occupied unit$)$ per year. Both rents and expenses are expected to grow at $1$ percent per year in perpetuity, and the building value is expected to remain a constant multiple of its net income. What is the projected net operating income $($NOI$)$ for the property in the first year? Suppose historically properties like this have averaged total returns of $10\%$ per year when T$-$bills have averaged returns of $7\%.$ If T$-$bills are currently yielding $5\%,$ what is the NPV of a deal to purchase this property for $$7,000,000?$

a$.$ $$500,000$

b$.$ $$1,500,000$

c$.$ $$2,500,000$

d$.$ $$3,500,000$