Ocean Park Properties is evaluating a real estate investment of Lakeview Estates. Management plans to buy the property today and sell it 5 years from today. The initial cost of the property is $5 million and the expected sale price is $26 million. What is the IRR of the investment? Enter your answer as a percentage and rounded to 2 DECIMAL PLACES

Answer rating: 100% (QA)

To calculate the internal rate of return IRR of the investment ... View the full answer