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Assume you invest $1,200 today in an investment that promises to return $3,242 in exactly 10 years. a. Use the present-value technique to estimate the

Assume you invest $1,200 today in an investment that promises to return $3,242 in exactly 10 years.

a. Use the present-value technique to estimate the IRR on this investment.

b. If a minimum annual return of 16% is required, would you recommend this investment?

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