After graduating from the Merage School of Business, you take a job with a real estate investment company specializing purchasing and managing rental property focused on the student housing market. During the first week on the job, you are asked to determine whether an apartment building, with an asking price of $8.0 million (nonnegotiable), is a good investment opportunity for the company. The required rate of return on all your Companys real estate investments is 6.75%. Your market research and financial modeling concludes the following: Annual net cash flows (gross rents collected less all expenses) are as follows: Year 1: $500,000 Year 2: $525,000 Year 3: $550,000 Year 4: $560,000 (data continued next page) Year 5: $575,000 Year 6 and thereafter: $580,000 Based upon you investment return requirements, should you purchase the apartment building