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Cardinal Company is considering a five-year project that would require a $2,975,000 investment in equipment with a useful life of five years and no salvage

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Cardinal Company is considering a five-year project that would require a $2,975,000 investment in equipment with a useful life of five years and no salvage value. The company's discount rate is 14%. The project would provide net operating income in each of five years as follows: Click here to view Exhibit 14B-1 and Exhibit 14B-2, to determine the appropriate discount factor(s) using table. Foundational 14-6 (Static) 6. What is the project's internal rate of return? (Round your answer to nearest whole percent.) EXHIBIT 14B-1 PresentValueof$1;(1+r)n1 Present Value of an Annuity of $1 in Arrears; r1[1(1+r)n1]

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