Which of the Following Represents the Formula for the Annual

Which of the following represents the formula for the annual marginal rate of return (MRR) when trying to decide whether to hold or sell a property (ATCFS equals the after-tax cash flow from sale and ATCFO equals the after-tax cash flow from operations) ?

A) MRR = (ATCFS (year t + 1) + ATCFO (year t + 1) − ATCFS (year t) − ATCFO (year t) / ATCFS (year t)
B) MRR = (ATCFS (year t + 1) − ATCFO (year t + 1) + ATCFS (year t) ) / ATCFS (year t)
C) MRR = (ATCFS (year t + 1) + ATCFO (year t + 1) − ATCFS (year t) ) / ATCFS (year t)
D) MRR = (ATCFS (year t + 1) + ATCFO (year t + 1) + ATCFS (year t) ) / ATCFS (year t)