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Lakeview Properties is evaluating a real estate investment of Seabreeze Estates. Management plans to buy the property today and sell it 10 years from today.

Lakeview Properties is evaluating a real estate investment of Seabreeze Estates. Management plans to buy the property today and sell it 10 years from today. The initial cost of the property is $18 million and the expected sale price is $65 million. What is the IRR of the investment? Enter your answer as a percentage and rounded to 2 DECIMAL PLACES. Do not include the percentage sign in your answer.

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