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Joseph and Mary, owners of Hotel Christmas have decided to sell their property. Hotel Christmas is a five - star full - service resort and

Joseph and Mary, owners of Hotel Christmas have decided to sell their property. Hotel Christmas is a five-star full-service resort and has a trailing 12 months cash flow of $5,375,000. A neighboring limited-service property, The Motel, is valued at $17,000,000. The market cap rate for five-star, full-service properties in this area is 9.5%. Under standard market conditions, approximately how much would the sale price of the Christmas?

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