You are considering the acquisition of a small office building. The purchase prices 3575.000. Seventy percent of the purchase price can be borrowed with a 30- 4.5 percent mortgage. Payments will be made annually. Up-front financing costs will total three percent of the loan amount. The expected before-tax cash flows from operations--assuming a 5-year holding period-are as follows: Year BTCF 1 $51.800 2 55,600 3 63,200 4 68.700 5 $73,800 The before-tax cash flow from the sale of the property is expected to be $225,000 What is the net present value of this investment, assuming a 9 percent required rate of return on levered cash flows (rounded to $Thousands)