Real Estate Principles 3rd Edition by David Ling,Wayne Archer

Exercise 2

What is the IRR, assuming an industrial building can be purchased for $250,000 and is expected to yield cash flows of $18,000 for each of the next five years and be sold at the end of the fifth year for $280,000
A) 0.09 percent
B) 4.57 percent
C) 9.20 percent
D) 10.37 percent