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Question(s) / Instruction(s):

A project has a required return of 14.25 percent. The project’s initial cost is $13,000 and its cash flows are: year 1 = $3,800, year 2 = $8,000, and year 3 = $5,000. What is the project’s IRR?

a.            13.40 percent   

b.            13.72 percent                   

c.             14.25 percent                   

d.            14.48 percent

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