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A firm is considering a capital budgeting project that has an initial out flow of 100 followed by NO cash flow in year 1 and

A firm is considering a capital budgeting project that has an initial out flow of 100 followed by NO cash flow in year 1 and a cash inflow of 124 at the end of year two. There are no other cash flows. What is the IRR if the interest rate is 10%? Write the IRR as a decimal accurate to 4 places after the decimal.

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