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Problem 12-2 IRR A project has an initial cost of $60,000, expected net cash inflows of $14,000 per year for 9 years, and a cost

Problem 12-2 IRR

A project has an initial cost of $60,000, expected net cash inflows of $14,000 per year for 9 years, and a cost of capital of 13%. What is the project's IRR? Round your answer to two decimal places.

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