Question: 26. Measuring Investment Performance Using NPV with a Target Yield of 13%: An investor wishes to purchase an investment for $15,000 that produces cash

26. Measuring Investment Performance Using NPV with a Target Yield of 13%:

26. Measuring Investment Performance Using NPV with a Target Yield of 13%: An investor wishes to purchase an investment for $15,000 that produces cash flows of $0 at the end of year one, $1,500 at the end of year two, $7,000 at the end of year three, and $10,000 at the end of year four. If the investor's target yield for this investment is 13%, what price could the investor pay for the property to earn the desired return?

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