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Need question solved asap fully and neatly Miner's Mexican Grill Inc. plans to open its 100th restaurant by the end of next year. The new
Need question solved asap fully and neatly
Miner's Mexican Grill Inc. plans to open its 100th restaurant by the end of next year. The new restaurant will require an initial investment of $300,000 and an annual operating cost of $31,000. It will have a $62,000 salvage value after 6 years. The company also estimates that the new restaurant will bring in revenue of $43,400 each year. Calculate the IRR of the investment if the company's minimum attractive rate of return is 12% per year. (HINT: skip $ and comma symbols, but include +/- signs. If interest, report in percentage, but skip %.)
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