Question 3 An investor wishes to purchase an investment property that will accrue the following cash flows for the next five years: Year 1 Year 2 Year 3 Year 4 Cash Flows $ 22,000.00 $ 25,000.00 $ 24,000.00 Year 5 $ 28,000.00 $28,000.00 a) If the investor has an expected rate of return of 15% and assuming that the investor could derive terminal cash flow of $484,337.50 from the sale of the property at the end of year 5, advice this investor on how much he should pay for the property today (purchase price) to realize a return just equal to his expected return of 15% (or NPV=0) assuming all equity for the purchase. b) What is the NPV of the project if the investor pays $330,000 for the property (assuming all equity for the purchase)