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An education authority is considering the implementation of a CCTV (closed circuit television) security system in one of its schools. Details of the proposed project

An education authority is considering the implementation of a CCTV (closed circuit television)

security system in one of its schools. Details of the proposed project are as follows:

Life of project 5 years

Initial cost $75,000

Annual savings:

Labor costs $20,000

Other costs $5,000

NPV at 15% $8,800

What is the internal rate of return for this project?

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