Question: Acme is considering developing an office building and selling it in the future. They forecast: At t=0 it will cost them $400,000 to buy the

Acme is considering developing an office building and selling it in

Acme is considering developing an office building and selling it in the future. They forecast: At t=0 it will cost them $400,000 to buy the land At t=1 it will cost them $500,000 to develop At t=2 it will cost them $600,000 to develop At t=3 they will sell it for $2,000,000 Each time period is a year. Find the IRR of this project. Write the answer as a percent so for example 2.5% should be written as 2.5, not as 0.025

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