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Consider the following financial data for a project: Initial investment Project life Salvage value Annual revenue Annual expenses (including income taxes) $15,000 8 years $0

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Consider the following financial data for a project: Initial investment Project life Salvage value Annual revenue Annual expenses (including income taxes) $15,000 8 years $0 $9,229 $3,000 (a) What is the i*for this project? (b) If the annual expenses increase at a 7% rate over the previous year's expenses, but annual revenue is unchanged, what is the newi*

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