Use the following property data: Cash flow from operations: Years 1-5 NOI (each year): $120,000 Debt service (each year): $105,000 Cash Flow at sale: Sale Price: $1,800,000 Cost of sale: $150,000 Mortgage balance: $1,100,00 Assuming the relevant required yield/return on levered cash flows is 12 percent, and that the property will be held by a buyer for five years, what is the present value of the levered cash flows? a) $366,156.41 Ob) $451,270.44 Oc) $1,368,827.46