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Carol Jones recently invested in a project that promised an internal rate of return of 15 percent

Finance

Carol Jones recently invested in a project that promised an internal rate of return of 15 percent. If the project has an expected annual cash inflow of $12,000 for six years, with no salvage value, how much did Carol pay for the project?

Present value tables or a financial calculator are required.

a.$35,000

      1. $45,414
      2. $72,000
      3. $31,708

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