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Robert's Produce Market is considering an expansion project with an initial cost of $176,500. The project will not produce any cash flows for the first
Robert's Produce Market is considering an expansion project with an initial cost of $176,500. The project will not produce any cash flows for the first two years. Starting in Year 3, the project will produce cash inflows of $127,500 a year for three years. This project is risky, so the firm has determined the appropriate discount rate is 18.85 percent. What is the project's internal rate of return? Numeric Response
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