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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

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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 9 percent, and that the maximum allowable payback and discounted payback statistics for the project are 20 and 3.0 years, respectively Time: Cash flow: -58,300 $1,090 $2,290 3 $1,490 4 $1,490 5 $1,290 $1,90 Use the IRR decision rule to evaluate this project. (Negative amount should be indicated by a minus sign. Round your answer to 2 decimal places.) IRR %

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