I have the opportunity to buy an Apartment Complex in another county close by. The apartment complex has a useful life of three years. The current owner of the apartment complex will sell it to me for only $70,000. If I buy the apartment complex, I can Collect Rent Payments (cash inflows) of $30,000 per-year (assume at the end of each year) for the next three years. Other than the $70,000 Purchase Price, there will be No Other Cash Outflows during the three-year period. But, other than the Rent Payments, there will be No Other Cash Inflows during the three-year period.

Assume that other investments of like Risk are Paying 15%. What should I do??? Should I Buy it or Not Buy it? Advice please...

Please show all work without using EXCEL, I need to understand how you got the answer for future homework problems and we are NOT allowed to use EXCEL...

Thank you