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Viera Corporation is considering investing in a new facility. The estimated cost of the facility is $1,696,729. It will be used for12years, then sold for

Viera Corporation is considering investing in a new facility. The estimated cost of the facility is $1,696,729. It will be used for12years, then sold for $719,400. The facility will generate annual cash inflows of $368,500and will need new annual cash outflows of $153,200. The company has a required rate of return of7%.

Calculate the internal rate of return on this project.

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