You are provided with the following information: Number of apartments: 70; Rent per month per apartment: $1200; Non-rental monthly income: $12,000 Expected vacancy and collection loss: 5 percent; Annual maintenance: $113,500; Property taxes: $103,000 Property insurance: $15,300; Management: $150,000; Capital expenditures: $50,000; Other operating expenses: $45,000; Annual mortgage debt payments: $261676 Use the below line treatment of capital expenditures. If you expect the NOI to grow forever at a 3% annual rate, what is the value of the building assuming a 9% discount rate? Note: Answer in dollars and round to the nearest dollar. Do not use dollar signs or comma separators.