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SHOW ALL WORK For a project, an initial cash outlay of $1.4 million is made. In year 1 the expected annual cash flow is $900,000,
SHOW ALL WORK For a project, an initial cash outlay of $1.4 million is made. In year 1 the expected annual cash flow is $900,000, years 2-5 the expected annual cash flow is $1,000,000 and in year 6 the expected annual cash flow is $1.3 million. A cost of capital of 15% is used. The IRR (internal rate of return) is ________.
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