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Oak Enterprises accepts projects earning more than the firm's 11% cost of capital. Oak is currently considering a 13-year project that provides annual cash inflows

Oak Enterprises accepts projects earning more than the firm's 11% cost of capital. Oak is currently considering a 13-year project that provides annual cash inflows of $45,000 and requires an initial investment of $389,100. What is the project's IRR? Is this project acceptable?

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