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A company is considering investing in a new project. The project requires an initial investment of $1,000,000 and is expected to generate cash inflows of

A company is considering investing in a new project. The project requires an initial investment of $1,000,000 and is expected to generate cash inflows of $300,000 per year for the next 6 years. The company's cost of capital is 10%. Should the company invest in the project? Use the internal rate of return (IRR) method to make the decision and show all calculations.

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