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42 2 pts Funtime Corporation is analyzing an investment of a fixed asset that will cost $208,240. Estimated cash inflows are expected to be $40,000

42 2 pts Funtime Corporation is analyzing an investment of a fixed asset that will cost $208,240. Estimated cash inflows are expected to be $40,000 each year for 7 years. The present value factor for an annuity of $1 for 7 years at interest of 6% is 5.582. At 8% the factor is 5.206. At 10% the factor is 4.868. At 12% the factor is 4.564. What is the internal rate of return (IRR) for this investment? 10% 6% 8% 12%

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