Question 10 (4 points) Billy Bob wants to convert his farm into a ski resort. He asked you to determine his rate of return based on the following estimates. - Development cost for each of the first 2 years, $87 000. - Construction of a chalet in Year 3, $1 240 000. - Upon his retirement in fifteen years, improvements in the property will yield him $270 000. Net returns from the operation of the golf course will be nil for the first three years and $200 000 per year afterwards until his retirement. Compute the IRR (Internal rate of return)