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You would like to develop an office building. Your analysts forecast that it will cost you $2,000,000 immediately (time 0) and $500,000 in one year

You would like to develop an office building. Your analysts forecast that it will cost you $2,000,000 immediately (time 0) and $500,000 in one year (time 1). They believe you can sell the building for $3,000,000 in two years (time 2). If your discount rate is i=11.0% what is the internal rate of return for this investment?

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