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Ignore income taxes in this problem.) The following data pertain to an investment project: ...

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Accounting

Ignore income taxes in this problem.) The following data pertain to an investment project:

Investment required $ 35,384
Annual savings $ 8,000
Life of the project 7 years

The internal rate of return is closest to:

a. 14%

b. 11%

c. 13%

d. 12%

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