Att 11 Question 13 6 pts 5 & ces You own a real estate investment company and your interns have provided the below annual estimates of NOI for an office building you can acquire today for $10m. They also estimate you would receive $13.2m in net sale proceeds when the property is sold at the end of 3 years based on paying 5% brokerage expenses. PNC bank has offered you a 3-year $7m interest-only loan at 6% with annual payments and $60,000 of origination fees. What is the unlevered internal rate of return of the investment? Please represent your answer as a percent with 2 decimals (ie, 0.748 as 748). Year 1 Year 2 Year 3 Year 4 NOI $600,000 $650,000 $711,000 $763,000