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A project has an initial cost of $24,000, which will be depreciated straight-line to zero over the 4-year life of the project. The annual cash

A project has an initial cost of $24,000, which will be depreciated straight-line to zero over the 4-year life of the project. The annual cash flows for each of the 4 years is $6,700, $8,100, $7,500, and $6,600. The required return is 13 percent. What is the IRR?

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