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SalonSalon Products is trying to decide which of the following projects to invest in: Project A costs $265,000 and offers eight annual net cash inflows

SalonSalon Products is trying to decide which of the following projects to invest in:

Project A costs $265,000 and offers eight annual net cash inflows of $56,000.

Project B costs $385,000 and offers ten annual net cash inflows of $66,000.

Compute the IRR of each project and use this information to identify the better investment.

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