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Renaissance Manufacturing has assigned a discount rate of 13.5 percent to a new project that has an initial cost of $320,000 and cash flows of

Renaissance Manufacturing has assigned a discount rate of 13.5 percent to a new project that has an initial cost of $320,000 and cash flows of $95,000, $141,000, and $196,000 for Years 1 to 3, respectively. What is the IRR of this project?

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