The owner determines that if the property were renovated instead of sold, after$-$tax cash flow over the next year would increase to $$60,000$ and the property could be sold after one year for $$2\mathrm{.}4$ million. Renovation would cost $$250,000.$ The investor would not borrow any additional funds to renovate the property.

a$.$ What is the rate of return that the investor would earn on the additional funds invested in renovating the property?

b$.$ Would you recommend that the property be renovated?