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the ans is annual rate Question 8 (6 marks) Three years ago, you bought a property cost at $3,254,300. Due to the boom in property

image text in transcribedthe ans is annual rate
Question 8 (6 marks) Three years ago, you bought a property cost at $3,254,300. Due to the boom in property market, you sold it at $9,456,000. However, Inland Revenue Department considers your sale is for trading purpose. It is subject to a tax of 15%. Determine the annual rate of return for this investment. (6 marks)

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