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PayPal is considering an update to its app. The update would cost 1 2 million dollars today, and 5 million dollars 1 year from now.

PayPal is considering an update to its app. The update would cost

12

million dollars today, and

5

million dollars

1

year from now. In years

2 - 6,

the update would increase PayPal's cash flows by

6

million dollars. What is the IRR of this project?

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