What is the IRR for the first marketing campaign

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Question - You are considering two possible marketing campaigns for a new product. The first marketing campaign requires an outlay next year of 2M, and then will pay 0.24M in all subsequent years. The second marketing campaign requires an outlay of 3M next year and then will pay 0.27M in all subsequent years.

Required - What is the IRR for the first marketing campaign? Can you show me the formulas and thinking behind?

Reference no: EM132721246

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