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You have been offered the following opportunity: receive a tax 'forbearance' credit of $10,000 today, and in return, you must make higher tax payments of
You have been offered the following opportunity: receive a tax 'forbearance' credit of $10,000 today, and in return, you must make higher tax payments of $1,000 per year for 15 years. The first of the annual payments will come in one year's time. What is the internal rate of return on this investment?
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