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An investor is considering the purchase of a small building

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An investor is considering the purchase of a small building. The NOI is expected to be the following: Year 1 - Sh200, 000; Year 2 - Sh.210, 000; Year 3 - Sh.220,000; Year 4 - Sh.230,000 and Year 5 - Sh.240,000. The property will be sold at the end of year 5 and the investor believes that the property value should have appreciated at a rate of 3% per year during the five year period. The investor plans to pay all cash for the property and wants to earn an 18% return. On the investments (discount rate). Required: Calculate the present value of the property today?