The IRR measures profit. It therefore measures return $"$on$"$ investment and not capital recovery. However, any investment that returns more than it cost will be a profitable investment and will have an IRR that is both positive and measurable. Lets consider the following example. Suppose that you purchase an apartment complex at the beginning of Year $1($or the end of Year $0)$ for $$698.$ You expect to earn $$15,000$ per year for the next $4$ years at the end of each year, but at the end of the year $5$ years from now you expect cash flows to equal $$115,000.$ Here is what these cash flows look like in a table:

n amount

CF$0$ $ $(698)$

CF$1$ $$15,000$

CF$2$ $$15,000$

CF$3$ $$15,000$

CF$4$ $$15,000$

CF$5,$$$115,000$

Compute the IRR and report it as a percent. For example, if the correct answer is $5\mathrm{.}28\%$ simply enter $5\mathrm{.}28$ in the numerical answer box. Please note that there exists only $1$ solution to the IRR in this example.