you are considering an apartment building project that requires an investment of $15, 000, 000. this building has 30 units and you expect the maintenance cost for the apartment building to be $400, 000 the first year which will continue to increase by $50, 000 every year in subsequent years. the cost to hire a manager for the building is estimated to be $100, 000 per year. after 6 years of operation, the apartment building can be sold for $16, 000, 000. if the monthly rent per apartment unit is $5, 000, what would be the rate of return on this investment?
