You are considering a property purchase for $1,000,000 with an 80% LTV 10year interest only loan at 5%. The first year's PGI is $150,000, and you expect a vacancy of 10%, and all expenses to be 40% of EGI. PGI will grow at 4% per year. You will sell the property at the end of year 5 at a cap rate of 10%. What is your before tax return on this investment? Do not round intermediate results. Enter your answer as a percentage, rounded to two decimal places, but do not enter the "%" sign. For example, if your answer is 0.10456 = 10.456%, enter 10.46 (no %).