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A project requires an initial investment of $200,000. It has a life of five years and generates net cash inflows in each of the five

A project requires an initial investment of $200,000. It has a life of five years and generates net cash inflows in each of the five years of $55,000. The net present value of the project when discounted at the company's cost of capital of 8% is $19,615.

Calculate the IRR.

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