Determine the internal rate of return for the project

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An investment project requires a net investment of $100,000 today. The project is expected to generate annual net cash inflows of $28,000 for the next 5 years. The firm's cost of capital is 12 percent. Determine the internal rate of return for the project (to the nearest tenth of one percent). a.12.0% b.12.6%c.3.6%.d.12.4%

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