Question: Consider a project with an initial investment (today, t = 0) of $375,000. This project will generate cash flows of $55,500 per year for the

Consider a project with an initial investment (today, t = 0) of $375,000. This project will generate cash flows of $55,500 per year for the next 10 years with no scrap value. What is the Internal Rate of Return (IRR) of the project? Answer in whole numbers, rounded to three decimal places.

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