What would be the most appropriate cash flow amount to use to estimate market value for a property by direct capitalization that has these expected cash flows (these cash flows and rates are the same as in another problem): Last year's NOI = $25,000. This year's, i.e, the upcoming year's NOI, call it year 1, = -$32,000. Year 2 NOI $50,300. Year 3 NOI = $80,050. Year 4 NOI = $39,600. Year 5 NOI = -$10,000. Reversion at the end of year 5 = $300,000. Debt service is $12,000 per year. Overall Cap Rate, Ro = .08. Overall Yield Rate, Yo = .10. Equity Cap Rate, Re = .12. Equity Yield Rate, Ye = .16. a. -32,000 b. -10,000 c. 25,000 d. 20,000 e. 47,542 f. 13,776 g. 31,443