An industrial park and office complex is available for sale in Berea. Cash flows from rent amount to $2,000,000 per year, every year, for the next fifteen years. Financing arrangements are made to borrow at 7.35%. Calculate the value of the property.

1. 14,525,323.20
2. 15,106,321.22
3. 16,375,215.22
4. 17,819,882.53