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A project that cost $75,000 has a useful life of 5 years and a salvage value of $3,000. The internal rate of return is 12%

A project that cost $75,000 has a useful life of 5 years and a salvage value of $3,000. The internal rate of return is 12% and the annual rate of return is 18%. The amount of the annual net income was:

Select one:

a.$4,680

b.$4,320

c.$6,480

d.$7,020

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