An appraiser determines that a comparable property would have a holding period of 5 years, terminal cap rate (based on Yr6NOI ) of 9% and

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An appraiser determines that a comparable property would have a holding period of 5 years, terminal cap rate (based on Yr6NOI ) of 9% and estimates 10% selling expenses. The property's purchase price was $455,000.00. The appraiser projects the following cash flows for NOI: Year 1: $45,000.00; Year 2: $46,000.00; Year 3 : $53,000.00; Year 4: $58,000.00; Year 5: $43,000.00; Year 6: $38,000.00. What is the IRR (internal rate of return) for this comparable