Suppose that an income-producing property is expected to be purchased at a 15% overall cap rate, and expected to yield cash flows for the owner of $150,000 in each of the next five years, with cash flows being received at the end of each period. If the opportunity cost of investment (discount rate) is 7.00% annually and the property can be sold for $1,250,000 at the end of the fifth year, determine the value of the property today using the DCF approach.