The subject property has a level income of $30,000.  In the…

The subject property has a level income of $30,000.  In the mortgage market for this type of property, the best rate available is 9.0% per year with monthly payments, 25- year amortization, and a maximum 75% loan-to=value.  The equity capitalization rate is 15%.  What is the market value?  (Use the band-of-investment technique and round your answer to the nearest $1,000.  You will need a financial calculator to answer this question.)