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Minnie Corp is considering the purchase of a new piece of equipment. When discounted at a hurdle rate of 8%, the project has a net
Minnie Corp is considering the purchase of a new piece of equipment. When discounted at a hurdle rate of 8%, the project has a net present value of $24,580. When discounted at a hurdle rate of 10%, the project has a net present value of ($28,940). The internal rate of return of the project is
a. | zero. | |
b. | between zero and 8%. | |
c. | between 8% and 10%. | |
d. | greater than 10%. |
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