I'm interested in becoming a residential real estate investor. There is a building I'd like to buy and it costs $3.5 million dollars to acquire. I would take out loan for 70% of the purchase price and make payments made monthly on a stated 7.35% annual interest rate. Assuming an opportunity cost of capital of 12%, what is the NPV and IRR of the proposed residential real estate investment? The total cash flows net I would project to earn from the building each year over a 10 year period would be:

Y1-5 = $303,030

Y6-Y10 = $405,005

Calculate NPV and IRR