Question: Problem 17-2 Calculating the Return on Investment Using Financial Leverage [LO17-1] Dave bought a rental property for $330,000 cash. One year later, he sold

Problem 17-2 Calculating the Return on Investment Using Financial Leverage [LO17-1] Dave

Problem 17-2 Calculating the Return on Investment Using Financial Leverage [LO17-1] Dave bought a rental property for $330,000 cash. One year later, he sold it for $320,000. Suppose Dave invested only $90,000 of his own money and borrowed $240,000 interest-free from his rich father. What was his return on investment? (Negative amount should be indicated by a minus sign. Enter your answer as a percent rounded to 2 decimal places.) Return on investment %

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