Given the following information regarding an income producing property, determine the net present value using unlevered cash flows at a discount rate of 10%. Expected Holding Period: 5 years; 1st year Expected NOI: $91,200; 2nd year Expected NOI: $93,873; 3rd year Expected NOI: $96,626; 4th year Expected NOI: $99,462; 5th year Expected NOI: $102,383; 6th Expected NOI: 105,634; Debt Service in each of the next five years: $60,544; Current Market Value: $897,000; Required equity investment: $223,350; Apply a going-out capitalization rate of 8.75% to determine the Gross Sales Price at end of year 5 has Closing Expenses of $12,000 and Disposition Fee (Brokerage Commission) of 3% of Gross Sales Price.; Remaining Mortgage Balance at end of year 5: $631,126. Show your steps used in Excel.

A) 164,880 B) 86,361 C)187,258 D)76,330