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A property will generate NOI of $12,000 per year for each of the next 8 years. You purchase this property at a 5% cap rate.

A property will generate NOI of $12,000 per year for each of the next 8 years. You purchase this property at a 5% cap rate. If you expect to sell this property in 6 years at a terminal cap rate of 6%, what is you IRR?

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