Royal Birkdale Company is interested in buying an apartment and renting it out for $12,000 a year, collecting the rent in advance each year. Royal Birkdale will depreciate the apartment over 20 years, but sell it after 5 years at a price, which is 20% more than its purchase price. The maintenance expenses and real estate taxes, paid at the end of each year, are $2000 annually. The after tax cost of capital for Royal Birkdale is 10%, and its income tax rate is 25%. Find the price of the apartment that Royal Birkdale should pay so that it can make $10,000 in current dollars from this project.