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You are looking to purchase a $ 1 , 3 6 0 , 0 0 0 building in an all cash transaction ( i .

You are looking to purchase a $1,360,000 building in an all cash transaction (i.e. no debt will be used). You are planning on selling the building after 3 years and believe that it will increase in value by $200,000 over that horizon. The NOI forecast is shown below. What is the pre-tax equity multiple associated with the equity investment?
\table[[,Year 1,Year 2,Year 3],[NOI,$65,000,$75,000,$82,000
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