For the calculations in this problem, increase decimal places for any intermediate calculations to, say, 6 or higher. The more the better! If you can do the math in Excel with correct referencing to cells with intermediate results - even better because Excel by default doesn't round anything. You are a professional real estate investor, and you are considering the acquisition of a "distressed property" ISEEI 1010 which is on Chino Bank's REO list. Here's are your estimated expenses: The property is available for purchase for $900,000. You believe that you can take a $765,000 interest-only loan requiring monthly payments. Acquisition: *Title search, inspection, paying for any unpaid taxes would cost a total of $18,000 upon the purchase *The loan will require that you pay a total of $78,000 each year, by making equal monthly Holding payments. period: *You also estimate that the property will require $72,000 total for maintenance, landscaping, and renovations during the first year after purchase, spread out evenly over the months. *Future selling expenses for the property are estimated to equal $21,000. Disposition: *Loan balance due upon sale. If you plan to sell the property 1 year from today, and if you require an 18% annual return (in nominal not effective terms), compounded monthly, your required profit (=money that you'll get to keep) 1 year from today is [ Select ] *, and so your required selling price 1 year from today is [ Select ] Rank HIGHEST TO LOWEST the required selling prices if you sell the house 1 year from today versus 2 years from today versus 3 years from today. Assume that the holding period expenses remain unchanged for the additional years. The correct ranking is [ Select ]