Question #8 Let's assume that your property's net operating income in year 1 is $79,000 and it is expected to increase by 3% per year. Your expected holding period is 4 years. The amount of debt service payments stays constant at $55,000 each year. Also assume that the net sales proceeds you can earn by selling this property at the end of year 4 is $220,000. If the initial equity investment is $200,000, what is the net present value of this investment from the equity investor's point of view (assume that the required rate of return is 14%) ? A) $116,000 B) $130,507 C) $9,595 D) $350,507 E) $20,000 Question #9 Based on the information in Question #8, what is the internal rate of return (IRR)? Choose the closest value to the correct answer. A) 13.5% B) 14.5% C) 15% D) 15.5% E) 16%