determined that cap rates are in a range of $0\mathrm{.}10.$ Athena believes that it should earn an IRR $($required return$)$ of at least $11$ percent.

Required:

a$.$ What is the estimated value of this office property $($assume a $0\mathrm{.}10$ terminal cap rate$)?$

b$.$ What is the current, or going$-$in$,$ cap rate for this property?

Complete this question by entering your answers in the tabs below.

Required A

Required $B$

What is the estimated value of this office property $($assume a $0\mathrm{.}10$ terminal cap rate$)?$

Note: Do not round intermediate calculations. Round your final answer to the nearest dollar amount.

Estimated value of the property