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Q11/12 Novak Company is contemplating an investment costing $168,810. The investment will have a life of 8 years with no salvage value and will produce

Q11/12
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Novak Company is contemplating an investment costing $168,810. The investment will have a life of 8 years with no salvage value and will produce annual cash flows of $30,500. Click here to view PV tables. What is the approximate internal rate of return associated with this investment? (Use the above table.) (Round onswer to 0 decimal places, eg. 15\%) Internal rate of return %

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