You plan to purchase a small office space for $50,000 at year end 2018.Since you have learned all necessary accounting skills from your education, you estimate that by renting out that office space, you will receive a stream of rental income for the coming eight years at the end of each year shown below. After eight years, you estimate that you can still sell the office space for $45,000 at the end of the eighth year. Is this project a good investment if you project that the normal rate of return in this line of business is 12%? How about if the general rate of return is 15%? Based on the information, compute the Internal Rate of Return for Investment. *Answer in Excel*

Year 1: $6,000

Year 2: $6,500

Year 3: $7,000

Year 4: $7,500

Year 5: $7,500

Year 6: $8,500

Year 7: $8,500

Year 8: $8,500