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Morgan Washington invested $550,000 in a small office building. He plans to hold the property for 20 years. He feels that he can expect an
Morgan Washington invested $550,000 in a small office building. He plans to hold the property for 20 years. He feels that he can expect an average monthly rental payment of $4,575. He holds a mortgage on the property for 4.49% and will use an 8% interest rate as the minimum desired rate of return for the investment. Calculate the net present value of the investment. Multiple Choice $176,474.86 $173,766.76 $607.29 $(3,03912)
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