QUESTION 19 "Ann buys a property that costs $1.000.000. She finances the purchase with a 70% LTV mortgage. She gets a 20 year interest only foxed rate mortgage at an annual interest rate of 5, with annual compounding and annual payments. Ann must pay 2 points upfront in mortgage closing costs (as a % of the loan amount. The loan has a 5/4/3/2/1 prepayment penalty structure she must pay a 5 penalty if she prepays at any time in the first year, 4 penalty in the second year etc). Suppose Ann will sell the property in 3 years after her 3rd years mortgage payment and pay off the balance when she sells What is Anns annualized IRR for the loan? TTTT Paragraph All 3 (1200 E. E. T- X. DO QE T'T TES 1