8. Your client has a required rate of return of 10% on real estate investments A property is available for purchase at an asking price of $4,000,000 with a $3,000,000 loan The property will be resold at the end of Year 4 with estimated net sales proceeds of $2.000.000. The forecasted before-tax cash flows are - Year 1 Year 2 Year 3 Year 4 $100.000 $110.000 $121.000 $133.000 What is the present value of equity? What is the investment value of the property if it is purchased? Would you recommend this investment