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Given the following information regarding an income producing property, determine the internal rate of return (IRR) using both levered and unlevered cash flows. Expected Holding

Given the following information regarding an income producing property, determine the internal rate of return (IRR) using both levered and unlevered cash flows. Expected Holding Period: 5 years; 1st year Expected NOI: $91,200; 2nd year Expected NOI: $93,873; 3rd year Expected NOI: $96,626; 4th year Expected NOI: $99,462; 5th year Expected NOI: $102,383; Debt Service in each of the next five years: $60,544; Current Market Value: $897,000; Required equity investment: $223,350; Gross Sales Price at end of year 5: $994,800 with Closing Expenses of $12,000 and Disposition Fee (Brokerage Commission) of 3% of Gross Sales Price.; Remaining Mortgage Balance at end of year 5: $631,126. Show your steps used in Excel.

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