Present Value of an Annuity of 1
Periods	8%	9%	10%
1	0.926	0.917	0.909
2	1.783	1.759	1.736
3	2.577	2.531	2.487

A company has a minimum required rate of return of 8%. It is considering investing in a project that costs $109116 and is expected to generate cash inflows of $44000 each year for three years. The approximate internal rate of return on this project is

8%.

9%.

10%.

less than the required 8%.

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