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Which of the following comes closest to the internal rate of return (IRR) of a project that requires an initial investment of $100 and produces

Which of the following comes closest to the internal rate of return (IRR) of a project that requires an initial investment of $100 and produces a single cash flow of $160 at the end of year 9? The required rate of return for the project is 10%.

a.

4.81%

b.

6.05%

c.

3.99%

d.

4.37%

e.

5.36%

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