Question: A project is expected to generate $1M in the first year, after which the cash flows are expected grow at 3% per year forever. Find

A project is expected to generate $1M in the first year, after which the cash flows are expected grow at 3% per year forever. Find the IRR if the initial investment is $10M.

15.0%

13.4%

11.8%

13.0%- correct answer

15.7%

please use excel if possible thank you

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