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Microwave Oven Programming, Inc. is considering the construction of a new plant. The plant will have an initial cash outlay of $9 million, and will
Microwave Oven Programming, Inc. is considering the construction of a new plant. The plant will have an initial cash outlay of $9 million, and will produce cash flows of $3 million at the end of year 1, $4 million at the end of year 2, and $2 million at the end of years 3 through 5. What is the internal rate of return on this new plant?
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