Suppose that your required rate of return on a condo is 12 percent. You are shown one such property, which has an asking price of $150,000. The sales representative shows you the following cash flow projections for a holding period of 6 years: Year (N) Cash flow 1. $22,500 2. 25,000 3. 30,000 4. 15,000 5. 40,000 6. 100,000

What is the NPV? What would be your expected rate of return in problem?