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A property was purchased for $1.2 million in Year 0. The projected NOI is $100,0...
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A property was purchased for $1.2 million in Year 0. The projected NOI is $100,000 in Year 1, which is expected to increase at a rate of 5% per annum. The property is sold at the end of Year 2 for $1.5 million, and the selling cost is 3% of the price. Given a safe reinvestment rate of 6%, what is the modified internal rate of return (MIRR) of this project?
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100%
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