Question: Problem 5-11 Present Values (LO2) You can buy a property today for $2.1 million and sell it in 6 years for $3.1 million. (You earn

Problem 5-11 Present Values (LO2) You can buy a property today for $2.1 million and sell it in 6 years for $3.1 million. (You earn no rental income on the property) a. If the interest rate is 11%, what is the present vaiue of the sales price? Note: 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 $110,000 per-year rent on the property? The rent is paid at the end of each year. Note: Do not round intermediate calculations. Enter your answer in millions rounded to 3 decimat places. c-2. is the property investment attractive to you now

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