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An investor can invest $10,000 in a mining project. In one year he will get a payout of $23,000, but at the end of year

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An investor can invest $10,000 in a mining project. In one year he will get a payout of $23,000, but at the end of year two he must pay $13,200. (a) Determine the net present value if the cost of capital is 8%. (b) Determine the internal rate of return. Answer: -$20.58 / 10.0%

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