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PayPal is considering an update to its app. The update would cost 1 0 million dollars today, and 6 million dollars 1 year from now.

PayPal is considering an update to its app. The update would cost 10 million dollars today, and 6 million dollars 1 year from now. In years 2-6, the update would increase PayPal's cash flows by 8 million dollars. What is the IRR of this project? the correct answer was given to me as 31.04, i am unsure how to get that though.

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