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An investment project requires a net investment of $100,000. The project is expected to generate annual net cash inflows of $33,000 for the next 4 years. The firm's cost of capital is 12%. Determine the internal rate of return for the project to the nearest tenth of one percent.

a. 12.00

b. 12.44

c, 12.11

d. 7.90

Financial Management, Finance

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