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A firm is considering investing in a 25 year capital budgeting project with a net investment of 14 Million. The project is expected to generate

A firm is considering investing in a 25 year capital budgeting project with a net investment of 14 Million. The project is expected to generate annual net cash flows each year of 2 million and a terminal value at the end of the project of 1 million. The firms costs of capital is 14 percent and marginal tax rate is 40%. What is the internal rate of return of this investment?

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