You are considering buying a rental property. The property costs $2.5 million but you plan to borrow $2 million at an interest rate of 5%. If the annual rental income, net of operating expenses (but before interest expenses and taxes), is expected to be $250,000 every year in perpetuity, and you face a 35% tax rate, what is the NPV of the investment to you, as an equity investor? (The cost of equity for real estate investments is 10% and you can assume that depreciation is offset by capital maintenance.)