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Chris Appraisals is appraising a commercial office building for refinancing. The company is using the expected future revenue method of determining the value of the

Chris Appraisals is appraising a commercial office building for refinancing. The company is using the expected future revenue method of determining the value of the building today. Assume the building is fully leased and expected to remain that way. Annual rental revenue is $232000 per year. The expected life of the building is 20 years. Assuming an annual return of 14%, what is the current value of the office building?

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