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The introduction of a new product would require an initial investment of $117,000. The forecast profits in successive years of the anticipated four-year product life

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The introduction of a new product would require an initial investment of $117,000. The forecast profits in successive years of the anticipated four-year product life are $16,100, $61,100,$41,100, and $36,100. Determine the IRR of the investment. (Round your answer to 1 decimal place.) Should the product be introduced if the firm's cost of capital is 11% ? Yes No

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