Chapter 5 Assignment 3 Saved You can buy property today for $2.0 million and sell it in 4 years for $3.0 million. (You earn no rental income on the property.) a. If the Interest rate is 12%, what is the present value of the sales price? (Do not round Intermediate calculations. Enter your answer in millions rounded to 3 decimal places.) b. Is the property investment attractive to you? c-1. What is the present value of the future cash flows, if you also could earn $100,000 per year rent on the property? The rent is paid at the end of each year. (Do not round intermediate calculations. Enter your answer in millions rounded to 3 decimal places.) c-2. Is the property investment attractive to you now? eBook a Present value million Hint b. No is the property investment attractive to you? Present value c-1. milion is the property investment attractive to you now? Yes References 0.62 boints