4 You can buy property today for $3.7 million and sell it in 6 years for $4.7 million. (You earn no rental income on the property.) 0.25 points a. If the interest rate is 6%, what is the present value of the sales price? (Do not round intermediate calculations. Enter your answer in millions rounded to 3 decimal places.) b. Is the property investment attractive to you? C-1. What is the present value of the future cash flows, if you also could earn $270,000 per year rent on the property? The rent is paid at the end of each year. (Do not round intermediate calculations. Enter your answer in millions rounded to 3 decimal places.) C-2. Is the property investment attractive to you now? eBook a. Present value 3.700 million Hint b. Is the property investment attractive to you? Present value C-1. million C-2. Is the property investment attractive to you now? Print References