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You have been advised by an agent marketing a development site that you are likely to be the successful bidder at the auction if you

You have been advised by an agent marketing a development site that you are likely to be the successful bidder at the auction if you are prepared to pay $3,600,000 at auction. You have completed your research and believe the development will have the following cash flows:
Year 1,(6,000,000)
Year 2,(2,500,000)
Year 3,16,000,000
Year 4,3,000,000
Year 1(6,000,000)
Year 2(2,500,000)
Year 316,000,000
Year 43,000,000
What rate of return are you likely to achieve if you pay $3,600,000 for the site?
NOTE: Round your answer to 2 decimal places in percentage. For example, input 12.34 as the answer.
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