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You have the opportunity to purchase a triplex rental property. You expect this property to generate $108,000 in rent one year from now and for

You have the opportunity to purchase a triplex rental property. You expect this property to generate $108,000 in rent one year from now and for rent to increase at 4% per year for the following four years. Five years from now, you believe you will be able to sell the property for $750,000. Assume the interest rate is 7% per year.

How much should you be willing to pay today for this property?

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