You purchase a commercial office building in LA for $800,000 and sell it 10 years...
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You purchase a commercial office building in LA for $800,000 and sell it 10 years later for $1,000,000. At the end of each year that you own the building, you receive $24,000 in rental income: this is a total of 10 cash flows of $24,000 each. What is the internal rate of return? Please express your answer in percentage, not decimal, form. Please round your numerical answer to 2 decimal places.
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