Suppose that you are conducting an investment analysis of a certain potential real estate investment. You expect to acquire the property this year for $15 million using a loan for 75% of the purchase price. The loan will use 30 year amortization to calculate the monthly payment and will come with an annual interest rate of 4.5% with monthly payments and compounding. You expect to sell the property at the end of the 10th year of ownership for $24 million. If you expect selling expenses to be 15% of the selling price, what will the property's before-tax equity reversion be from the sale of the property at the end of the 10th year? a. 8.39 mill b. 11.39 mill c. 11.99 mill d. 14.99 mill