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Cyrus hopes to achieve a 12.5% cap rate. At an existing restaurant, he finds the net operating income is $128,000. What should he offer for

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Cyrus hopes to achieve a 12.5% cap rate. At an existing restaurant, he finds the net operating income is $128,000. What should he offer for the property to meet his goals (that is, what would the property value estimate be?) a. $ 144,000 b. $1, 587, 200 c. $1, 024,000 d. $1, 600,000

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