Refer to the "Ch14 MRR" tab in the Excel Workbook provided on the website. Please note that in order to change the NOI and property value growth rate, you must change them on the "Ch14 Return if Held" tab. Suppose both the NOI and property value growth rate are 4 percent instead of 2 percent. How would this change the marginal rate of return for years 1 to 10? Does the
MRR increase or decrease for the first year? Does it decrease at a faster or slower rate over time?