Suppose you own an apartment building in San Jose. It has 8 units and you expect to collect $1,500 monthly per unit. Since you expect that the region will continue to experience economic growth, you estimate that rent will increase 1.5% every year. For simplification, assume that you will collect the rent at the end of the year. Use an interest rate of 4.6%

i. Compute the present value of your income stream if today is Jan 1st 2023. Assume that all rental payments for 2022 have already been spent on maintenance.