You want to buy a real estate in Chicago, which will cost you $1.2M today. After buying the property, you will spend an additional $100,000 on renovations at the end of the first month. Starting from month 2 , you can rent this property for $6,000 per month (paid at the end of the month) until the end of year 4. If you sell this property for $2M at the end of year 4 and your discount rate is 8.4% per year, what is the NPV of this project? $341,450 $303,890 $369,548 $352,157 $322,275