You hire a precision lathe at a cost of 11,040 for a three-year period. The...
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You hire a precision lathe at a cost of 11,040 for a three-year period. The rental cost must be paid in full at the start of the three-year period. You estimate that the investment will generate 5,000, 6,000, 7,500 in cash flows over three years, respectively. What is the internal rate of return on this investment? Use a graphical method to get the approximate IRR
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