The Dallas Development Corporation is considering the purchase of an apartment project for $118.000. They ertimate that they will receive $18,150 at the end of each year for the next 10 years. At the end of the 10th year, the apartment project will be worth nothing. Required: a. If Dallas purchases the project, what will be its internal rate of return, compounded annually? Note: Do not round intermediate calculations and round your final answer to 2 decimal places. b. If the company insists on an 8 percent return compounded annually on its investment, is this a good investment? John is considering the purchase of a lot. He can buy the lot today and expects the price to rise to $16,700 at the end of 10 years. He believes that he should earn an investment yield of 8 percent compounded annually on his investment. The asking price for the lot is $8,000. Required: a. What is the internal rate of return compounded annually on the investment if John purchases the property for $8,000 and is able to sell it 10 years later for $16,700 ? Note: Do not round your intermediate calculations and round your final answer to 2 decimal places. b. Should he buy the lot