A commercial real-estate project requires an initial outlay of $10,000,000. It is expected to generate the following net cash flows over the next 5 years, at which time it will be sold for $45,000,000. That's a resale value of $45,000,000 at the end of year 5 If the developer's use a discount rate of 16%, calculate the projects NPV a. 30,053,162 b. 24,281,564 c. 20,125,320 d 18,327,325 Calculate the developer's IRR a. 32.590% b. 48.320% c. 72.180% d 93.080% Calculate the project's Payback Period a. 3.15 Years b. 2.68 Years c. 2.42 Years d 1.90 Years