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Lakeview Properties is evaluating a real estate irvestment of Seabreeze Estates. Management plans to buy the property today and sell it 6 years from today.

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Lakeview Properties is evaluating a real estate irvestment of Seabreeze Estates. Management plans to buy the property today and sell it 6 years from today. The initial cost of the property is $8 milion and the expected sale price is $59million. What is the IAR of the investment? Enter your answer as a percentage and rounded to 2 DECIMAL PLACES. DO not include the percentage sign in your answer. Enter your response below. %

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