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Luong Machines Company is evaluating an investment of $1,100,000 which will yield net cash inflows of $197,062 per year for 7 years with no residual

Luong Machines Company is evaluating an investment of $1,100,000 which will yield net cash inflows of $197,062 per year for 7 years with no residual value. What is the internal rate of return? Present value of ordinarv annuitv of $1 : A. 7% B. 8% C. 6% D. 5%

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