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XYZ is evaluating a project that would require an initial investment of $74,600 today. The project is expected to produce annual cash flows of $8,300

XYZ is evaluating a project that would require an initial investment of $74,600 today. The project is expected to produce annual cash flows of $8,300 each year forever with the first annual cash flow expected in 1 year. The NPV of the project is $7,800. What is the IRR of the project?

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