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Jill is considering a piece of rental real estate. She estimates that she can generate net cash flows of $10,000 for each of the first

Jill is considering a piece of rental real estate. She estimates that she can generate net cash flows of $10,000 for each of the first 3 years. Jill anticipates being able to sell the property for $200,000 at the end of three years of ownership/management. If Jill's other investments are earning at least 14%, what is the most Jill should be willing to pay for this property? [hint: use a present value of the cash flows approach]

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