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IRR A project has an initial cost of $40,000, expected net cash inflows of $8,000 per year for 10 years, and a cost of capital

IRR

A project has an initial cost of $40,000, expected net cash inflows of $8,000 per year for 10 years, and a cost of capital of 9%. What is the project's IRR? Round your answer to two decimal places.

___________%

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