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For the purpose of determining the interval to become as opposed for risk free return and chance premium, investment decision lifetime of the venture ought to be viewed as. Since lodging belongings, like hotels, had extensive valuable lives, return on lengthy-phrase government bonds need to be used for lodging calculations, which ought to be within the time period 1926 to 1987 (exhibit 5 of your case) as this proficiently demonstrates The underside line nature of return with a long-lasting see such as all abnormalities during this period.
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