The published sale price of a small apartment building comparable sale was $245,000. The buyer had mostly non-reported income and could not qualify for a standard mortgage. He agreed to purchase the property for $245,000 with the seller taking back a purchase-money mortgage of $175,000 at 7 percent for 30 years with monthly payments and a balloon payment in six years. The market interest rate for a property like this at the time of sale was a 9 percent with no points. What is the cash equivalent sales price, assuming the buyer would keep the financing in place for six years. (Round to the nearest $1000)

A. $245,000

B. $230,000

C. $200,000

D. $175,000