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You propose to expand your utility's power grid into a neighboring county. You project this will cost $170 million up front and will pay off

You propose to expand your utility's power grid into a neighboring county. You project this will cost $170 million up front and will pay off $35 million in year 1, growing at 4% thereafter.

What is the project's IRR?

A. 24.6%

B. 9.0%

C. 11.4%

D. 14.2%

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