QUESTION 104 A property is offered for $650,000 with the following annual net operating income Yr. 1 $65,000 Yr. 2 $70,000 Yr 3 # $62,000 Yr 4 = $70,000 Yr. 5 $74,000 What is the intemal rate of return assuming that the property sold at the end of year five for $740,000 and the interest rate (discount rate) is 10 percent O 12.77 percent 0 10 percent 0 Error 5 8.77 percent