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Question 1: A company has a minimum required rate of return of 8%. It is considering investing in a project that costs $429,650 and is expected to generate cash inflows of $128,000 each year for four years. The approximate internal rate of return on this project is
Group of answer choices
Option 1: 9%.
Option 2: 8%.
Option 3: 10%.
Option 4: Cannot be determined.
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