Youre considering an investment opportunity that your friend has presented to you - a duplex in a neighboring city. The property is expected to provide net rental income of $300 per month ($150 per unit), and you are anticipating being able to increase rents at a rate of 3% per year. The investment plan is to sell the property in 5 years and capitalize on appreciation of the value of the property. If alternative investment options in the current market offers 8% return, what is the present value of the estimated income stream? Construct a model showing your work.