An investor-partner has invested $95 million in a real estate development project and the developer-partner has invested $5 million. Assume the project is wildly successful and at a project level will return a 25% IRR. Which of the following distributions would you prefer if you are the investor-partner? Non-cumulative pari passu O All are equally preferred Investor-partner 10% IRR Lookback Investor partner 10% IRR Preference then 50%/50% split