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Suppose you purchased an income-producing property for $395,000 five years ago. In year 1, you were able to negotiate a lease that paid $30,000 per
Suppose you purchased an income-producing property for $395,000 five years ago. In year 1, you were able to negotiate a lease that paid $30,000 per year at the end of each year. If you are able to sell the property at the end of year 5 for $420,000 (after receiving our final lease payment), what was the internal rate of return (IRR) on this investment?
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