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HSBC is setting up a brand-new branch in Saar. The cost of the project will be ($1.2 million). The branch will create additional cash flows

HSBC is setting up a brand-new branch in Saar. The cost of the project will be ($1.2 million). The branch will create additional cash flows of ($235,000); $412,300; $665,000 and $875,000 over the next four years respectively. HSBC's cost of capital is 12%. What is the IRR on this branch expansion?


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