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San Jose Property Development Company is refurbishing a 250-unit condominium complex at a cost of $4,100,000. It expects that this will lead to expected annual

  1. San Jose Property Development Company is refurbishing a 250-unit condominium complex at a cost of $4,100,000. It expects that this will lead to expected annual cash flows of $750,000 for the next nine years. What internal rate of return can the firm earn from this project?

A)

10.04%

B)

12.73%

C)

11.33%

D)

13.45%

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