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ABC Company is considering a project that will initially cost $10 million and will have annual benefits of $3 million per year in years 1

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ABC Company is considering a project that will initially cost $10 million and will have annual benefits of $3 million per year in years 1 to 5 ; $2 million per year in years 6 to 10 ; and $1 million per year in years 11 to 15 . Given that the project utilizes special equipment, there is a requirement that they be maintained at a cost of $500,000 in years 3,6,9, and 12 . If the company's rate of require is 5%, what is the Internal Rate of Return for this project? Round the pecentage to two decimal places. For example, 12.345% is written as 12.35%

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