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Present value of an Annuity of $1 in Arrears Lucas Company is considering a project with an initial investment of $530,250 in new equipment that

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Present value of an Annuity of $1 in Arrears Lucas Company is considering a project with an initial investment of $530,250 in new equipment that will yield annual net cash flows of $95,000, and will be depreciated at $75,750 per year over its seven year life. What is the internal rate of return? a. 6% b. 10% c. 12% d. 14% e. 8%

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