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Angel Publishing is considering the purchase of a used printing press costing $74,200. The printing...

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Accounting

Angel Publishing is considering the purchase of a used printing press costing $74,200. The printing press would generate a net cash inflow of $32,000 a year for 3 years. At the end of 3 years, the press would have no salvage value. The company's cost of capital is 8 percent. The company uses straight-line depreciation. What is the IRR?

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