Sky High Partners is evaluating a high-rise office building to add to its investment portfolio. To calculate a value, Sky High plans to use the income approach, based on the following estimates: Gross potential yearly rental income Estimated vacancy rate Yearly operating costs Market capitalization rate $897,000 $3.10% $424,000 $9% a. Compute the net operating income (NOI) for the building. Net operating income b. Using the income approach, calculate the value for the office building. (Round your answer to the nearest whole number.) Valuation