You are considering purchasing a property. You are trying to figure out what you should pay for it. You estimate the property will have: Rent: $80,000 paid today; each year rent will grow by 5%. Sales of building at the end of 12 years (no fees or taxes): $3 million. Your required cost of capital is 11%. Should you pay $3 million for this property? What is its NPV if you do? Please solve using formulas.