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A project yields $100 in 3 years and $200 in 5 years. The IRR is 8%. You can reinvest intermediate cash flows at a 3%

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A project yields $100 in 3 years and $200 in 5 years. The IRR is 8%. You can reinvest intermediate cash flows at a 3% annual interest rate. What is the annualized HPR on the project? (Answer with two decimals, e.g. 3.08% is rounded to 3.1%)

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