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Question 28 2.5 pts The calculated internal rate of return of 7.42 percent on an unleveraged property at a purchase price of $1,000,000 was

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Question 28 2.5 pts The calculated internal rate of return of 7.42 percent on an unleveraged property at a purchase price of $1,000,000 was labeled the "most-likely case." However, after reviewing other data, you also developed alternative net operating income estimates and calculated "best-case" and "worst-case" internal rates of return as 9.21 percent and 6.85 percent, respectively. If the following probabilities are assigned to the above internal rate of return scenarios, what is the expected internal rate of return for this property at a purchase price of $1,000,000? (Round to two decimal places.) Scenario Best Case Probability .20 Most Likely Case .65 Worst Case .15 7.69 percent 9.21 percent 6.85 percent 7.42 percent

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