RC firm is considering the purchase of an office property. It has done an extensive market analysis and has estimated that based on current market supply and demand, rents a current market supply and demand, rents and its estimate of operating expenses, annual NOI are as follows: Year NOI 1 millions 1 millions 1 millions 1.2 millions 1.3 millions a continues to infinity and ABC believes that investors should earn a 12% return on If the growth rate after year 5 is 3% con this investment: terminal capitalization rate be at the end of year 47 eoing to be owned for 4 years and then sold, what would be the value of the property a) What would be the termina b) If the investment above is goine today