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Question
Project LMK requires an initial outlay of $500,000 and has a profitability index of 1.4. The project is expected to generate equal annual cash flows over the next ten years. The required return for this project is 16%. What is project LMK's internal rate of return?A) 19.88%
B) 22.69%
C) 24.78%
D) 26.12%
Answer
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