Suppose you buy the property at the asking price of $55,000,000 and own it for exactly 1 year. you make the down-payment in part (9). you collect the noi in part (3). you make the annual mortgage payment in part (10). in two years, the noi is expected to be the same. you sell the property at the end of year 1, at a cap rate of 50 basis points below the cap rate in part (11) and you pay off the loan balance when you sell. compute the irr on this investment. g

On january 1, 2017, pharoah company issued 10-year, $2,020,000 face value, 6% bonds, at par. each $1,000 bond is convertible into 16 shares of pharoah common stock. pharoah’s net income in 2017 was $317,000, and its tax rate was 40%. the company had 97,000 shares of common stock outstanding throughout 2017. none of the bonds were converted in 2017. (a) compute diluted earnings per share for 2017. (round answer to 2 decimal places, e.g. $2.55.) diluted earnings per share