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You are advising Hilton Hotels to buy a hotel building. It is expected to generate $ 5 9 5 net operating income in the following

You are advising Hilton Hotels to buy a hotel building. It is expected to generate $595 net operating income in the following year. You find that the Cap Rate for similar properties in the Hotel commercial real estate market is 9.26%. What is the purchase price you would recommend Hilton Hotels to buy the hotel following the Cap Rate valuation method? Write your answer up to cents (e.g. if you get $106.63898, write 106.64).
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