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1. A small company purchased now for $27,208 will lose $867 each year for the first 4 years. An additional $6,082 invested in the company
1. A small company purchased now for $27,208 will lose $867 each year for the first 4 years. An additional $6,082 invested in the company during the fourth year will result in a profit of $6,979 each year from the fifth to the fifteenth year. At the end of 15 years, the company can be sold for $32,446. Calculate the ERR when = 13%.
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