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What is the true IRR of the following project? Assume the firm would be able to reinvest the cash flows at a 7% rate of

What is the true IRR of the following project? Assume the firm would be able to reinvest the cash flows at a 7% rate of return.

Year A

0 -1,000

1 600

2 400

3 400

Select one:

a.12%

b.14.00%

c.14.85%

d.15.32%

e.14.21%

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