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Use the template for this case to calculate Sally and Daves IRR on their equity investment. (Terminology: Since the cost of the condo is $100,000

Use the template for this case to calculate Sally and Daves IRR on their equity investment. (Terminology: Since the cost of the condo is $100,000 and since theyre borrowing $50,000, the equity investment is $50,000.) Remember that for income tax purposes depreciation and interest on the mortgage are expenses, but that repayment of mortgage principal is not an expense. Use Excels IPMT and PPMT functions

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