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Modern Federal Bank is setting up a brand new branch. The cost of the project will be $1.2 million. The branch will create additional cash

Modern Federal Bank is setting up a brand new branch. The cost of the project will be $1.2 million. The branch will create additional cash flows of $235,000; $412,300; $665,000, and $875,000 in years 1-4 respectively. The firms cost of capital is 12%. What is the IRR on this branch expansion?

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