The purchase price that produces an irr equal to the investor's required rate of return is the property's investment value to that investor.
Investment value is the value that a property offers to a specific investor. It is the value that the investor would be willing to pay for the property. Regardless of market value, there’s always going to be a limit to what an investor is willing to sink into an asset.
Investment value is based on the investor’s own qualifications, available capital, tax rate, and financing.
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