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Four years ago, you bought a racehorse for $ 1 , 9 5 0 , 0 0 0 . At the end of each year

Four years ago, you bought a racehorse for $1,950,000. At the end of each year the horse produced $450,000 in winnings net of all expenses and tt the end of year four you sold the horse for $3,000,000. What was the IRR of the investment?

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