For the cash flow series below, calculate the external rate of return, using the return on invested
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For the cash flow series below, calculate the external rate of return, using the return on invested capital approach with an investment rate of 14% per year.
Year Cash Flow, $
0 .......... 3000
1 .......... –2000
2 .......... 1000
3 ......... –6000
4 .......... 3800
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