Korea Nuclear Tritium Removal Facility (TRF) Project Requires an Immediate

Korea Nuclear tritium removal facility (TRF) project requires an immediate investment of $33 million with a residual value of $7 million at the end of the project. It is expected to yield a net return of $1 million in Year 1 from the sale of immobilized tritium to ITER, $5 million dollars in Year 2, $8 million per year for the following six years, and $7 million per year for the remaining four years. Find the rate of return using Excel's IRR function.

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