1 points Question 1 You are considering the purchase of an apartment complex. The following awamptions are made The purchase price is $1,000,000 Potential gross income (PG) for the first year of operations is projected to be $55,000 Pl is expected to increase at 4 percent per year. No vacancies are expected Operating expenses are estimated at 35 percent of effective grows income. Ignore capital expenditures The market value of the investment is expected to increase 2 percent per year. Selling expenses will be 4 percent. The holding period is 3 years 70 percent of the acquisition price can be borrowed with a 30-year, monthly payment mortpape, The annual interest rate on the mortgage will be 12.0 percent Given the assumptions above, what will be your annualued rate of return on the investment? Below -10% Between 100% and 5% Between -3% and 0% Between 0% and 5% OB OD O Between 3 and 10% O Between 10% and 15% Between 15% and 20%