Given the Following Expected Cash Flow Stream, Determine the NPV

Multiple Choice

Given the following expected cash flow stream, determine the NPV of the investment opportunity. Investment Horizon: 3 years; End of first year NOI estimate: $886,464; End of second year NOI estimate: $913,058; End of third year NOI estimate: $940,450; Price at which the property is expected to be sold at the end of year 3: $5,000,000; Current market price of the property: $6,200,000; Discount rate: 9%.

A) -$321,010.66
B) -$28,451
C) +$28,451
D) +$321,010.66