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Environmental Consulting can buy some field equipment for $50,000 or lease it for 2 years at $26,000 per year. Salvage value of the equipment after

Environmental Consulting can buy some field equipment for $50,000 or lease it for 2 years at $26,000 per year. Salvage value of the equipment after 2 years would be $7,000. What is the IRR of the leasing option?

( Present your answer in percentage form with 2 decimal places)

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