As an investor you want to make an investment of $350,000 in a property today. That will bring a monthly income of $800 (based on a $1,200 monthly rent and a $400 monthly operating expense) for the next 4 years (48 months). You expect the property to appreciate to be worth $400,000 at the end of the 4th year. What internal rate of return (IRR) may be obtained on this investment if other expenses and fees are not considered and the property can be sold for the anticipated price in three years? (For the simplicity of the calculation, monthly income occurs at the end of each month, and the sale price will be added to your account in 4 years along with the 48th monthly income.)

Please provide both the IRR and RATE function results in your Excel file.