The subject property is expected to generate net operating income over the next three years as shown in the following table. The resale of the property is estimated at $5,000,000 at the end of the third year. The discount rate is 9.5%. Rounding your answer to the nearest $1,000, what is the present value of this investment? Year 1 23 Total A. $4,335,000 OB. $4,775,000 OC. $4,287,000 OD. $4,553,000 NOI $250,000 x 300,000 X 350,000 x PV Factor (@9.5%) || || || = = PV

The subject property is expected to generate net operating income over the next three years as shown in the following table. The resale of the property is estimated at $5,000,000 at the end of the third year. The discount rate is 9.5%. Rounding your answer to the nearest $1,000, what is the present value of this investment? A. $4,335,000 B. $4,775,000 C. $4,287,000 D. $4,553,000