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Mountain Ridge Properties is evaluating a real estate investment of Ocean Park Estates. Management plans to buy the property today and sell it 5 years

Mountain Ridge Properties is evaluating a real estate investment of Ocean Park Estates. Management plans to buy the property today and sell it 5 years from today. The initial cost of the property is $15 million and the expected sale price is $66 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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