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Evaluate a capital investment project for Company O using the internal rate of return (IRR) method. The project requires an initial investment of $1,000,000 and

Evaluate a capital investment project for Company O using the internal rate of return (IRR) method. The project requires an initial investment of $1,000,000 and is expected to generate annual cash flows of $300,000 for the next five years.

Determine the internal rate of return (IRR) for the investment project of Company O based on the provided data.

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