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8. Lucius plans to open a custom paint and auto repair shop. The machinery, paints and equipment will cost $2,160,000. Lucius expects the after-tax cash
8. Lucius plans to open a custom paint and auto repair shop. The machinery, paints and equipment will cost $2,160,000. Lucius expects the after-tax cash inflows to be $825,000 annually for 14 years, after which he plans to scrap the equipment and retire to the beaches of Bermuda. Assume the required return is 10%. What is the project's IRR?
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