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A company is considering a project that requires an initial investment of $112,000 (no additional cash outflows are required). The project will then generate 5 years of cash inflows. Using an 8% hurdle rate, the present value of the cash inflows is $98,652. How does the IRR of this project compare to 8% ? Less than 8% Greater than 8% Equal to 8% cannot determine from the information given