You are considering purchasing a property. You will use income approach (Investment method) to determine your offering price. You will not pay more than appraisal value based on the income approach. The NOI for the property is $96,000. Your accountant has suggested you use a cap rate of 4.5% above the ten year T-bill. You checked the current auction for T-Bills, and the rate was 4.00%. You recently received information from the city tax assessors office that the tax on this property will increase by 10,000 . What should you offer for the building based on the income approach? Enter the amount to the nearest dollar no commas, no decimals. If your answer is $455,123 enter 455123