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Humbug Corp. is considering including a press in this year's capital budget. The cash outlay for the press is $ 2 , 2 7 0

Humbug Corp. is considering including a press in this year's capital budget. The cash outlay for the press is $2,270. The firm's cost of capital is 10.1%. After-tax cash flows, including depreciation, are as shown in the table below. Calculate the internal rate of return (IRR) for this project.
\table[[End of Year,Cash Flow ($)],[1,720],[2,720],[3,720],[4,720],[5,720]]
17.98%
17.64%
18.25%
18.65%
If the initial investment for a project is $498 and the cash inflows are $296 for 5 years, what is the IRR?
IRR =,%(Round your answer to two decimal places.)
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