You are acquiring a 100,000 sq. ft. office building for $10 million at a 7% cap rate. Operating expenses are $8 per sq. ft. plus a management fee of $75,000, other income of $108,000 and a 5% vacancy rate. What is the gross potential rent?

(A) $1,575,000

(B) $1,565,263

(C) $1,544,210

(D) None of the above