Check my work 9 Problem 3-10 0.75 points John is considering the purchase of a lot. He can buy the lot today and expects the price to rise to $15,900 at the end of 10 years. He believes that he should earn an investment yield of 8 percent compounded annually on his investment. The asking price for the lot is $8,000. eBook Required: a. What is the internal rate of return compounded annually on the investment if John purchases the property for $8,000 and is able to sell it 10 years later for $15,900? Note: Do not round your intermediate calculations and round your final answer to 2 decimal places. b. Should he buy the lot? Print % a. Internal rate of return Should he buy the lot? [Yes References