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(Ignore Income Taxes in This Problem The Internal Rate of Return Is Closest To:
A) 12

Question 13

Multiple Choice

(Ignore income taxes in this problem.) The following data pertain to an investment project:
Investment required. $34,055Annual savings $5,000Life of the project. 15 years \begin{array}{lr}\text {Investment required. }&\$ 34,055\\\text {Annual savings }&\$ 5,000\\\text {Life of the project. }&15 \text { years }\\\end{array}
The internal rate of return is closest to:


A) 12%
B) 14%
C) 10%
D) 8%

Correct Answer:

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