You$$ve completed your proforma analysis of an investment real estate deal and the following numbers $($among many others$)$ are shown on your spreadsheet:

Regarding the proforma above, which statement is FALSE? $($In other words, all of the statements are true EXCEPT:$)$

a$.$

We appear to need approximately $$4\mathrm{.}8$ million of equity $($ignoring closing costs; leveraged deal$)$

b$.$

The IRR amounts depend, in part, on our estimate of sale price at the end of our holding period

c$.$

Our required return is likely to be higher for the leveraged analysis

d$.$

We should definitely not use leverage here since it provides a lower NPV