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Peter recently purchased a dilapidated property in a certain city for $8,000,000. He plans to refurbish the property into a first class shopping center
Peter recently purchased a dilapidated property in a certain city for $8,000,000. He plans to refurbish the property into a first class shopping center and it is estimated that he has to spend $500,000 per month on the project for the next 5 years when the project will be completed. Calculate the true cost of the project at the time of completion if he expects returns on his capital at 17.75% per annum. I
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