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Joe is considering the purchase of a Truck that would cost $195,661, would have a...

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Accounting

Joe is considering the purchase of a Truck that would cost $195,661, would have a useful life of 9 years, and would have no salvage value. The Truck would bring in cash inflows of $47,000 per year in excess of its cash operating costs.

1. Determine the internal rate of return on the investment. Show your work.

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