Please, provide me the complete explanation. Thank you!

D. A sample equation and an example. Below you will find the equation to determine the Implicit Interest Rate. Use it to solve the example which follows. r=[PV0FVVt]1/t1 Time Value Ex. \#1 On January 4, 2000 Mark Cuban purchased the Dallas Mavericks NBA team for a price of $285 million (from H. Ross Perot). Twelve years later (as of January 25, 2012) Forbes magazine has valued the franchise at $497 million. What annualized rate of return has Mr. Cuban earned on his investment? Show your answer to five decimal places