Jenny is considering the purchase of a rental property with several units. The property rents for $6,500 a month when all units are occupied. When all units are occupied, additional income from on-sight laundry facilities is expected to be $200 a month. The units are expected to be rented 90% of the year. Additional expenses associated with the property include real estate taxes of $8,000 a year, liability insurance of $2,500 a year, advertising expense of $1,000 a year, maintenance costs of $10,000 a year, depreciation of $10,500 a year, and interest expense on the property loan of $14,000 a year. If Jenny's required rate of return on the property is 10%, what is the intrinsic value of the property?

		$50,860.
		$80,400.
		$566,000.
		$263,600
		$508,600.