Your subject property includes 22 farmable acres that are currently leased on a cash rent basis for $500 per acre annually. The dwelling is currently leased for $1,100 per month. The owner typically pays for property taxes totaling $7,500 annually for the entire property. They are also responsible for insurance and maintenance which has averaged $2,500 annually. You determine that both leases are at market. You determine that while no vacancy or collection loss is applicable on the cropland the market recognizes a vacancy/collection loss rate of 5% on the dwelling. What is the value of your subject utilizing a capitalization rate of 1.75%? Round your answer to the nearest dollar. Your subject property includes 22 farmable acres that are currently leased on a cash rent basis for $500 per acre annually. The dwelling is currently leased for $1,100 per month. The owner typically pays for property taxes totaling $7,500 annually for the entire property. They are also responsible for insurance and maintenance which has averaged $2,500 annually. You determine that both leases are at market. You determine that while no vacancy or collection loss is applicable on the cropland the market recognizes a vacancy/collection loss rate of 5% on the dwelling. What is the value of your subject utilizing a capitalization rate of 1.75%? Round your answer to the nearest dollar