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3. A piece of real estate will generate annual cash flow of $148,000. The first cash flow occurs one year from today and subsequent annual

3. A piece of real estate will generate annual cash flow of $148,000. The first cash flow occurs one year from today and subsequent annual cash flows will continue indefinitely. If you can purchase the property for $822,000 today, what is the project's internal rate of return (IRR)? Enter your answer as a decimal and round to four decimal places. For example, if your answer is 4.55%, enter .0455

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