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Suppose that you are considering the development of a residential subdivision. The development will require you to spend $300,000 today to acquire the land. You will also have to spend $750,000 in both years 1 and 2 in order to build the houses. You expect to make $1.5 million in year 3 and $2 million in year 4 from sales of the completed homes. What is the internal rate of return of this project? Q 115.2% 0 94.4% 0 32.5% 0 217.48% Suppose that a regular annuity has a future value of $125,000 using a periodic discount rate of 3%. If the annuity is converted to an annuity due the future value will be: 0 $128,750 0 $128,866 0 $121,250 0 $121,359