32. An analyst gathers the following information about a REIT: - Estimated net operating income in Year 1: $346,000 - Cash and cash equivalents: $43,000 - Land held for development: $38,000 - Accounts receivable: $29,000 - Total debt: $1,440,000 - Cap rate: 7.2% - Shares outstanding: 63,000 The REIT's NAV per share is closest to: | Chartered Financial Analyst Level 2 Quiz