Suppose you have developed the followingdata for an income property:

Constant NOI = $100,000

Loan-to-value ratio = .75

Mortgage interest rate = 15%

Mortgage term = 30 years

Projected holding period = 5 years

Projected appreciation in value after 5 years = .10

Equity yield rate = 20%

Equity dividend rate = 10%

Annual mortgage constant (f) = .152300

Proportion of the mortgage paid off after 5 years (Pn) = .015509

Yearly sinking fund factor = .134380The current value of the property using Ellwood is

Question 7 options:

1)

$567,859

2)

$619,031

3)

$682,156

4)

$721,211

5)	None of the abover