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Assume you invest $8,800 today in an investment that promises to return $24,987 in exactly 10 years. a. Use thepresent-value technique to estimate the IRR

Assume you invest $8,800 today in an investment that promises to return $24,987 in exactly 10 years.

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

b. If a minimum annual return of 15% isrequired, would you recommend thisinvestment?

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