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You consider to purchase a property that currently on the market for $175,000 which will give you an annual net income of $25,168 for the

You consider to purchase a property that currently on the market for $175,000 which will give you an annual net income of $25,168 for the next 9 years and the expected sales price of the property at the end of 9 years for the price of 8 times the net income. Your required of return is 14.9%. What is the net present value of this property which will help you to make decision to purchase it or not? (Your answer should be rounded to the nearest dollar value)

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