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2. A company pays $120.000 to purchase a property. The company pays $3.000 at the end of each of the next 6 months to renovate the property. At the end of the eight month, the company sells the property for $150.000. Find the net present value of this project for the company at annual effective rate of 8%. What is the project's monthly IRR of the previous problem? b Solution: $ 4.896,52 b 1,1101% a