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Scott, Inc. is planning to invest $73,600 in an eight-year project. Scott predicts that the annual cash flow from operations from this project will be

Scott, Inc. is planning to invest $73,600 in an eight-year project. Scott predicts that the annual cash flow from operations from this project will be $16,000. The internal rate of return on this investment is:

a. exactly 15% b. less than 14% c. between 14% and 15% d. exactly 14%

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