The net income on a parcel of income-producing units was $32,000 for the last year. This represented an 8% return on the market value of the property. The property changed so as to cause the owners to want a 10% return on their investment. In view of this increased percentage rate of return, how much would the property be worth?
1. $80,000
2. $320,000
3. $400,000
4. $520,000