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The internal rate of return is an unreliable indicator of whether or not to accept a project if The initial cash flow is negative. The

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The internal rate of return is an unreliable indicator of whether or not to accept a project if The initial cash flow is negative. The investment has cash inflows that occur after the required payback period. The investment is mutually exclusive with another investment of a materially different size. One of the time periods within the investment period has a cash flow equal to zero

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