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An investment costs $ 4 , 0 0 0 today. This investment is expected to produce annual cash flows of $ 1 , 2 0

An investment costs $4,000 today. This investment is expected to produce annual cash flows of $1,200, $1,400, $1,300 and $1,100, respectively, over the next four years. What is the internal rate of return (IRR)(or geometric average) on this investment?
Question 23 options:
2.43%
6.25%
9.72%
31.25%

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