Suppose your firm is considering investing in a project with the cash flows shown below, that the required rate of return on projects of this risk class is 8 percent, and that the maximum allowable payback and discounted payback statistics for the project are 3.5 and 4.5 years, respectively.

Time:	0	1	2	3	4	5	6
Cash flow:	$7,700	$1,110	$2,310	$1,510	$1,510	$1,310	$1,110

Use the IRR decision rule to evaluate this project.

IRR

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