1. Use this information for the following two questions: Suppose an office building has a single tenant who pays $50,000 per year at the end of each year in a 5-year triple-net lease (annual payments). At the end of 5 years, just after collecting the rent for that year, you expect to sell the building for 10 times the rent that year.

   What is the value of the property if the required rate of return (IRR) is 12 percent per year?

   	a.	$416,667
   	b.	$463,952
   	c.	$548,801
   	d.	$583,333
   	e.	$770,000