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A property is bought for $900,000 with no debt. The annual cash flows for the property are $30,000 in year 1 and they grow by 5% per year. If the property is sold for $1,090,000 at the end of the 5th year, what is the IRR on the investment? 7.31% 6.65% 8.09% 7.00% 9.38% A property is bought for $900,000 with no debt. The annual cash flows for the property are $30,000 in year 1 and they grow by 5% per year. If the property is sold for $1,090,000 at the end of the 5th year, what is the IRR on the investment? 7.31% 6.65% 8.09% 7.00% 9.38%