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06-06-2023
Business

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Ocean Park Properties is evaluating a real estate investment of Lakeview Estates. Management plans to buy the property today and sell it 14 years from today. The initial cost of the property is $17 million and the expected sale price is $32 million. What is the IRR of the investment? Enter your answer as a percentage and rounded to 2 DECIMAL PLACES. Do not include the percentage sign in your answer. Enter your response below. ______ %

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