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The operating cash flow of a project is estimated in $ 1 9 7 , 8 0 0 for four years. This project involves capital

The operating cash flow of a project is estimated in $197,800 for four years. This project involves capital spending (machine purchase) in the value of $650,000, and a net working capital injection of $34,000. In the last year, the machine will be able to be sold for $150,000. Considering the tax rate of 21%, especially on the proceedings of the salvage sale, estimate this project's IRR.

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