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Crane, Inc, a resort management company, is refurbishing one of its hotels at a cost of ( $ 6 , 9 2 1

Crane, Inc, a resort management company, is refurbishing one of its hotels at a cost of \(\$ 6,921,170\). Management expects that this will lead to additional cash flows of \(\$ 1,560,000\) for each of the next six years. What is the IRR of this project? If the appropriate cost of capital is 12 percent, should Crane go ahead with this project? (Round onswer to 4 decimal places, e.\(5.2516\%\)) The IRR of this project is The firm should the project.

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