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(Related to Checkpoint 11.4) (IRR calculation) What is the intemal fate of retum for the following project. An initial outlay of $11,000 fesulting in a

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(Related to Checkpoint 11.4) (IRR calculation) What is the intemal fate of retum for the following project. An initial outlay of $11,000 fesulting in a single cash intlow of $16,540 in 7 years, The internal rate of return for the project is \%. (Round to the nearest whole percent.)

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