Question: Data for a project is given below. The MARR for the project 10%. What is the IRR for the project? Initial cost $230,500 Life 9

Data for a project is given below. The MARR for the project 10%. What is the IRR for the project?

Initial cost $230,500
Life 9 years
1st year benefit $162,000
Increase in benefits/year 4%
1st year costs $129,500
Increase in all costs/year 3%
Salvage value of equipment 15% of initial cost

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