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An appraiser estimates that a property will produce NOI of $25,000 in perpetuity, yo is 11 percent, and the constant annual growth rate in NOI

An appraiser estimates that a property will produce NOI of $25,000 in perpetuity, yo is 11 percent, and the constant annual growth rate in NOI is 2.0 percent. What is the estimated property value?

277,778

227,273

323,762

243,762

231,580

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