T Problems Saved Help Save You can buy property today for $2.4 million and sell it in 5 years for $3.4 million. (You earn no rental income on the property.) a. If the interest rate is 8%, what is the...

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Extracted text: T Problems Saved Help Save You can buy property today for $2.4 million and sell it in 5 years for $3.4 million. (You earn no rental income on the property.) a. If the interest rate is 8%, 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? c-1. What is the present value of the future cash flows, if you also could earn $140,000 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 millions rounded to 3 decimal places.) C-2. Is the property investment attractive to you now? a. Present value million b. Is the property investment attractive to you? C-1. Present value million C-2. Is the property investment attractive to you now? < prev="" 2="" of="" 12="" next=""> search W