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4) A marketing program will cost $50,000 today and $100,000 in 2 years from today and 2 $121,000 in 5 years from today. The net

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4) A marketing program will cost $50,000 today and $100,000 in 2 years from today and 2 $121,000 in 5 years from today. The net returns (profit) from the program will result in an increase in profits of $40,000 over 12 years. Find the Rate of Return (IRR) of this marketing program compounded annually. (4 marks)

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