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Q32 PLEASE ANSWER CORRECTLY AND PROMPTLY!! PLEASE SHOW ALL WORK!! You are considering an investment opportunity that requires an initial investment of $159 million in

Q32 PLEASE ANSWER CORRECTLY AND PROMPTLY!! PLEASE SHOW ALL WORK!!

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You are considering an investment opportunity that requires an initial investment of $159 million in period 0 . Starting in one year, it will generate $12.8 million per year in perpetuity (i.e. every year forever). The cost of capital is 13%. What is the IRR (the internal rate of return) for the project? [Note that getting the actual value should not require trial and error or a financial calculator, because this is a simple case.] [Give your answer in percent, to one and only one decimal place, and with no percentage sign. For example, 6.2, 18.9 or 4.6 . The software will mark it wrong otherwise, so please format your answer properly.]

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