You are planning to buy a partially vacant apartment building using all equity financing (i.e. no debt). The builing will cost $2.9 million today. Upon taking possession of the property, you intend to implement a renovation program that will consume 100% of the property's net operating income over the next 3 years (so NOI = $0 for each of the next 3 years). Upon completion of the renovation program (at the end of year 3), you expect to sell the property for $4.2 million. Given these assumptions, what is the internal rate of return (IRR) for this property investment?