Consider the table. Assume that the subject property has effective gross income of $$50,007$ and an NOI of $$39,905.$ Also assume the comps are reflective of the market for subject property, and that the appraiser weights each of the comps equally when determining a market cap rate. What value would a cap rate approach yield?

$\backslash$table$[[$Price$,$Comp $1,$Comp $2,$Comp $3],[$Effective gross income,$53,681,57,419,52,117],[\%$ operating expense,$37\%,35\%,38\%$