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A firm has the following cash flows: Year 0 : ( $ 2 8 , 7 0 0 ) , Year 1 : 1 2

A firm has the following cash flows: Year

0

(

28, 700),

Year

1

12, 700,

Year

2

15, 700,

Year

3

11, 700 .

The appropriate discount rate is

15

percent. What is the IRR for this project?

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