You want to build a property at a cost of $650,000 on a vacant lot. The property will have annual NOI of $80,000. The recapture rate over 50 years of the building to be two percent per year. The cap rates for the land is 6%. Assuming the mortgage rate is 5.5%, what is the value of the vacant lot? O $555,622 O $523,159 O $518,687 $520,833 None of the given answers