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A real estate investor likes to flip houses. That is, he likes to buy a house at a low price and then flip or sell

A real estate investor likes to flip houses. That is, he likes to buy a house at a low price and then flip or sell the house for a higher price. The investor is looking at a foreclosed house that will cost $233,750.00 today. He will invest an additional $49,618.00 in the first year of owning the house to upgrade its features. He then believes he can sell the house for $420,613.00 at the end of the second year. What is the IRR of this investment?

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