ASSIGNMENT 11.3. EVALUATING PROPERTY PURCHASE The nonprofit Classic Performer, for which you serve as financial director, is considering purchasing a space for year-round performances. An old theater in the city center is for sale for $80 million, and initial costing analysis has revealed that to get the theater up and working would require another $20 million. The average operating cost for the planned activities is estimated to be $5 million per year. The ticket sales are estimated to be $10 million for the next ten years. The theater will need major renovation after ten years, and the residual value at that time will be $90 million, considering the increase in real value of city property over the recent history. Do you recommend that Classic Performer purchase