You are evaluating buying an apartment building. It is expected to generate annual cash flow of $$100,000$ for each of the next $6$ years.

If you have to pay $$2,000,000$ to buy the apartment today and your required return is $7\mathrm{.}5\%$ on this investment, what would you need to sell the apartment for in $6$ years to generate the required return? Enter your answer to the nearest dollar with the dollar sign and as a positive number.

Correct Answers

$2,362,201($with margin: $50)$