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2. A new well-built condo is for sale for $750,000. You estimated the rent could be at least $30,000 a year forever and you want

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2. A new well-built condo is for sale for $750,000. You estimated the rent could be at least $30,000 a year forever and you want at least 6% return. Assume rent can only increase by a 2% inflation rate each year, is that price reasonable? If rent can now increase by 3% inflation, would you still buy the condo? Why? (12 marks)

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