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A company is considering an iron ore extraction project that requires an initial investment of $1, 300,000 and will yield annual cash flows of $789,

A company is considering an iron ore extraction project that requires an initial investment of $1, 300,000 and will yield annual cash flows of $789, 314 for two years. The company's discount rate is 9%. Calculate IRR. 14% 16% 13% 12%

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