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The subject produces a net operating income ( NOI ) of $ 1 0 0 , 0 0 0 , sells for $ 1 ,

The subject produces a net operating income (NOI) of $100,000, sells for $1,000,000 in 5 years, and the discount rate is 6.0%. The subject's NOI increases $1,000 annually. What is the present value of the subject property (rounded to the nearest $1,000)?
A.
$1,176,000
B.
$429,000
C.
$539,000
D.
$1,076,000

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