27. Given the following information regarding an income producing property, determine the after tax internal rate of return (IRR). Expected Holding Period: 5 years; 1^st year Expected BTCF: $30,656; 2^nd year Expected BTCF: $33,329; 3^rd year Expected BTCF: $36,082; 4^th year Expected BTCF: $38,918; 5^th year Expected BTCF: $41,839; 1^st year Expected Tax Liability: $7,645; 2^nd year Expected Tax Liability: $8,658; 3^rd year Expected Tax Liability: $9,708; 4^th year Expected Tax Liability: $10,798; 5^th year Expected Tax Liability: $6,951; Estimated Before Tax Equity Reversion at end of year 5: $343,674; Expected Taxes Due on Sale at end of year 5: $32,032; Required equity investment: $241,163

A. 11.2%

B. 13.3%

C. 15.4%

D. 20.3%