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Sharon is making an investment of $80,000 today and expects to receive $2,000 each year for the next five years. At the end of the

Sharon is making an investment of $80,000 today and expects to receive $2,000 each year for the next five years. At the end of the fifth year, a sum of $100,000 will be returned. What is the internal rate of return compounded annually on this investment?

a) 6.84% b) 6.86% c) 6.88% d) 7.02%

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