Question: Problem 5-11 Present Values (LO2) You can buy property today for $3.6 million and sell it in 5 years for $4.6 million. (You earn no

Problem 5-11 Present Values (LO2) You can buy property today for $3.6 million and sell it in 5 years for $4.6 million. (You earn no rental income on the property) a. If the interest rate is 9%, 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? 6.1. What is the present value of the future cash flows. If you also could earn $260,000 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 millons rounded to 3 decimal places.) 2. is the property investment attractive to you now? million D 0-1 is the property investment attractive to you? Present value is the property Investment attractive to you now? c-2

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