riod/Rate	Present Value of Ordinary Annuity
5%	6%	7%	8%	9%
10	7.7217	7.3601	7.0236	6.7101	6.4177
11	8.3064	7.8869	7.4987	7.1390	6.8052
12	8.8633	8.3838	7.9427	7.5361	7.1607
13	9.3936	8.8527	8.3577	7.9038	7.4869

Knowledge Check 01

Clean Tel, Incorporated is considering investing in an 11-year project with annual cash inflows of $1,000,000. These cash inflows have an initial investment of $7,139,000. At what discount rate would this present value be the same as the initial investment?

multiple choice

6%

7%

9%

8%