Assume the following information for a subject property 1. 2. 3. 4. 5. 6 NOI. $20k. $21.2k. $22.472k. $23.82k. $25.25k. $28.37k Estimate the value of this property assuming a five year holding period and that you expect to incur selling expenses of 5% when the property is sold at the end of the holding period. Assume the terminal cap rate is 11% and the overall discount rate is 10%. The value of the property is:

a. $268,360 b. $256,518 c. $244,675 d. $236,668 e. the answer falls outside the range provided

don't use excel. solve with finance calculator