Question
Michael developed a $7,700,00 office for a return for 7.0% and sold the property upon completion and lease-up for a 4% cap rate. What is
Michael developed a $7,700,00 office for a return for 7.0% and sold the property upon completion and lease-up for a 4% cap rate. What is his capital gain before taxes?
A)$308,00
B)$13.45 Mill
C)$539,000
D) $5.775 mill
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Intermediate Financial Management
Authors: Eugene F Brigham, Phillip R Daves
14th Edition
0357516664, 978-0357516669
