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(IRR calculation) Jella Cosmetics is considering a project that costs $775,000 and is expected to last for 8 years and produce future cash flows of

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(IRR calculation) Jella Cosmetics is considering a project that costs $775,000 and is expected to last for 8 years and produce future cash flows of $170,000 per year. If the appropriate discount rate for this project is 14 percent, what is the project's IRR? The project's IRR is \%. (Round to two decimal places.)

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