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Suppose the Net Operating Income (NOI) in a property is $11,000,000 and the market value cap rate is 8.00%. Annual debt service is $1,500,000. What

Suppose the Net Operating Income (NOI) in a property is $11,000,000 and the market value cap rate is 8.00%. Annual debt service is $1,500,000. What is the market value of the property using direct capitalization?

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