Information

Use this information about a certain property to answer question:

Projected Year 1 NOI: $100,000.

Projected Year 11 NOI: $121,899.

Projected Year 10 resale (reversion) value: $1,523,738.

Current (going-in) market cap rate for similar properties: 7%.

What is the current market value of the property?

Question options:

	$7,000.
	$1,000,000.
	$1,428,571.
	$1,741,414.