问题
单项选择题
An investor gathered the following information about a real estate investment:
A．Cost of the property
B．$800000
C．Amount financed by mortgage loan
D．80%
E．Interest rate on mortgage loan
F．13%
G．Present value of after-tax cash flows from the investment
H．$156000
I．Investor's required rate of return for an equity investment
J．15%
答案
参考答案：C
解析：NPV= -800000× (1-80%) +156000= -4000＜0. When NPV=0, then IRR = 16%. If NPV＜0, then investment's yield to an equity investor is less than 16%.