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You purchase a building for $22,500,000 with the following proforma cash flows. The bank is willing to provide a 80% LTV loan, amortizing monthly over

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You purchase a building for $22,500,000 with the following proforma cash flows. The bank is willing to provide a 80% LTV loan, amortizing monthly over 25 years, at a 5.0% interest rate. You plan on selling the building at the end of the fifth year at a exit cap rate of 7.75% with selling costs of 4.25% to be deducted from the residual value. If your investors require a 11% rate of return on their equity investment, what is the net present value (NPV) at that rate

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