Given the following information regarding an income producing property, determine the unlevered internal rate of return (IRR): Expected Holding Period: Current Market Value: 1st year Expected NOI: 2nd year Expected NOI: 3rd year Expected NOI: 4th year Expected NOI: year Expected NOI: Debt Service in each of the next five years: Required equity investment: Net Sale Proceeds of Property at end of year 5: Remaining Mortgage Balance at end of year 5: 15.8% 5 years $1,025,000 $-20,000 $65,533 $77,748 $98,458 $105,634 $98,232 $236,250 $1,144,600 $815,539 5th 10.6% 23.4% 7.95%