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A private equity firm is aiming to buy a company. Under private equity ownership, the company will earn an annual cash flow of $10mln .

A private equity firm is aiming to buy a company. Under private equity ownership, the company will earn an annual cash flow of $10mln. The estimated IRR is 13%. What is the investment outlay (in millions) closest to?

76.92

0.77

8.85

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