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Sarasota Company is contemplating an investment costing $173,390. The investment will have a life of 8 years with no salvage value and will produce annual

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Sarasota Company is contemplating an investment costing $173,390. The investment will have a life of 8 years with no salvage value and will produce annual cash flows of $32,500. Click here to view PV tables. What is the approximate internal rate of return associated with this investment? (Use the above table.) (Round answer to 0 decimal places, e.8. 15\%.) Internal rate of return \%

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