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A project requires an investment of $600,000 today and it is expected to generate after-tax cash flows of $250,000 at the end of year 1,
A project requires an investment of $600,000 today and it is expected to generate after-tax cash flows of $250,000 at the end of year 1, $300,000 at the end of year 2, and $200,000 at the end of year 3. The companys weighted average cost of capital is 8.7% per year. What is the projects annual modified internal rate of return?
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