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You have the opportunity to invest in Gopher Gardens, a residential high - rise real estate property in downtown Minneapolis. You expect Gopher Gardens to
You have the opportunity to invest in Gopher Gardens, a residential highrise real estate property in downtown Minneapolis. You expect Gopher Gardens to generate $M in rent one year from now and for rent to increase at per year for the following four years. Five years from now, you believe you will be able to sell the property for $ million. Assume the interest rate is per year.
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