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Assume you invest $5,300 today in an investment that promises to return $10,504 in exactly 10 years. a. Use the present-value technique to estimate the
Assume you invest $5,300 today in an investment that promises to return $10,504 in exactly 10 years.
a. Use the present-value technique to estimate the IRR on this investment.
b. If a minimum annual return of 12% is required, would you recommend this investment?
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Part 1
a. The IRR of the investment is%.
(Round to the nearest whole percent.)
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