You bought some land for $1,200,000 your plan is to build an apartment building for $1,300,000 which will provide you with rental revenue of $500,000 per year depreciation is straight line with a 30 year life and no salvage The tax rate is 34% an ordinary income and 20% on capital gains what will you need to sell the apartment for before taxes in 15 years to earn a 15% after tax return?