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would undertake using the development residual method. What are the specific steps required? 6. Briefly discuss divisibility and liquidity and how they impact real estate investment. Which of the six forms of ownership of real estate are the most liquid? 7. Janet wants to invest her $1,000,000 inheritance. She was planning to invest the entire amount in a mutual fund made up solely of Bank of Canada treasury bills. The expected return on this at she invest in the following portfolio