Assume that you purchase a property for $300,000 and it generates annual cash flows of $30,000 in Years 1-3; and $45,000 in Years 4 & 5. You are able to sell it at the end of Year 5 for $400,000. Calculate the IRR for this investment property.

Assume that you purchase a property for $300,000 and it generates annual cash flows of $30,000 in Years 13; and $45,000 in Years 4&5. You are able to sell it at the end of Year 5 for $400,000. Calculate the IRR for this investment property