Going Out Cap Rate

Suppose that examination of a pro forma reveals that the fifth$-$year net operating income $($NOI$)$ for an income$-$producing property that you are analyzing is $$147000($you can assume that this cash

flow occurs at the end of the year$).$ If you estimate the projected rental growth rate for the property

to be $4\%$ per year, determine the projected sale price of the property at the end of year $5$ if the going$-$out capitalization rate is $8\%.$