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In the year 2019, a real estate analyst forecasts that a rental apartment building will generate $8.8 million each year in rent over the 10

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In the year 2019, a real estate analyst forecasts that a rental apartment building will generate $8.8 million each year in rent over the 10 years 2020-2029. Cash expenses are expected to be $7.5 million a year. At the end of ten years, the building is expected to sell for $18 million. Real estate investors require a 15% return on their investments. Apply present value discounting techniques to value the building. $11.30 million $9.12 million $6.52 million $10.97 million

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