Question: Antonio & Raquel ( A&R ) wedding planners are considering the purchase of a luxurious limousine . It would last 1 5 years and have

Antonio & Raquel (A&R) wedding planners are considering the purchase of a luxurious limousine. It would last 15 years and have a salvage value of $22,000. This purchase would generate a net inflow of $43,000/year. However, it has a hefty price tag of $240,000.
Required: Determine the Internal Rate of Return (IRR) of the aforementioned investment.

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