Question: 3 0 . 1 0 3 points John peesently owes an offce buldine which is 3 0 years old, and is comidering renovating it .

3
0.103 points
John peesently owes an offce buldine which is 30 years old, and is comidering renovating it. Assume that if Johe does the renovation, he will be able to obtain a new loan that is equal to the balance of the eisting loan plas 75% of the renovation cents. Assume a five-year holding period. Below Is the information about the property and Johnl's estination if hedoesthr monortion.
\table[[CURRENT,-],[Purchase Price,1.000,000
3 0 . 1 0 3 points John peesently owes an offce

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