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Present value of an Annuity of $1 in Arrears Ruby Company is considering a project with an initial investment of $300,000 that will yield annual

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Present value of an Annuity of $1 in Arrears Ruby Company is considering a project with an initial investment of $300,000 that will yield annual net cash flows of $90,580 and will be depreciated at $75,000 per year over its 4 year life. What is the internal rate of return? (Note: Round the discount factor to three decimal places.) a. 6% b. 14% c. 8% d. 12% c. 10%

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