You own an office property,and you can acquire today for $10m.The annual estimates first year NOI is $700,000 and the projected growth rate of NOI is 2%. Your coworkers estimate you would receive $13m in net sale proceeds when the property is sold at the end of 2years based on paying 10%brokerage expenses. Fifth thirdbank has offered you a 2-year $7m interest-only loan at 6% with annual payments. What is your net present value of the investment opportunity with leverage if your opportunity cost of equity is 10%? What is your unlevered IRR?