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Managerial Accounting: 66. The Information Technology Club, Inc. is considering an investment that requires $20,000...

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Accounting

Managerial Accounting:

66. The Information Technology Club, Inc. is considering an investment that requires $20,000 and promises to return $28,090 in 3 years. The company's income tax rate is 40 percent. What is the approximate internal rate of return? a. 8 percent. b. 10 percent. c. 12 percent. d. 15 percent.

ANS: C 12 percent

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