A company invested $3.5 million in a five-year project. It expects that this project will produce savings of $4.4 million by the end of the five-year period. If inflation is expected to be 3.0% per year, what is the nominal IRR of this investment? 4.47% 4.52% 3.98% 4.68% 1.60% Real MARR can be also defined as the actual interest rate plus an adjustment that reflects the inflation effect. the real interest rate plus an adjustment that reflects the inflation effect. the actual MARR plus an adjustment that reflects the inflation effect. the actual MARR minus an adjustment that reflects the inflation effect. the real interest rate minus an adjustment that reflects the inflation effect