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A project requires a payment of $20,000 on Jan.1, 2021, and generates repayments of $8,000 each on Jan. 1 of 2022 and 2023, and $5,000

A project requires a payment of $20,000 on Jan.1, 2021, and generates repayments of $8,000 each on Jan. 1 of 2022 and 2023, and $5,000 each on Jan.1 of 2024 and 2025. Calculate the internal rate of return. Round the answer to the nearest tenth percent.

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