Huiling owns a rental property on Main street, but she is considering selling the property to another real estate investor. In preparation for negotiating a price, Huiling wants to know the value of the property. The Net Operating Income (NOI) is the cash flow from real estate and the Cap Rate is the rate, where NOI is rental revenue less all expenses except loan servicing. The property has an NOI of $21,000 per year. The local real estate market has a cap rate of 8%. What is a fair price for the property assuming that the building's remaining life is 25 years?