Assume that the lot will not be reassessed for the next 4, Business Economics

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Assume that the lot will not be reassessed for the next 4

A lot on the outskirts of town costs $35,000. The annual property taxes are calculated at 3.5% of the assessed value of $28,000. Assume that the lot will not be reassessed for the next 4 years (property taxes remain constant) and that the value increases by 20% before it is sold at the end of 4 years. What is the IRR?

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Business Economics: Assume that the lot will not be reassessed for the next 4

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