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creighton music is considering investing $675,000 in private lesson studios that will have no residual value. The studios are expected to result in annual net

creighton music is considering investing $675,000 in private lesson studios that will have no residual value. The studios are expected to result in annual net cash inflows of $100,000 per year for the next 10 years. Assume that Creighton music uses a 10% hurdle rate. What is the approximate internal rate of return (IRR) of the studio investment.

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