Question: Facebook, Inc. is considering launching a new virtual reality (VR) gaming platform. The development of the VR platform is expected to cost $500 million and

Facebook, Inc. is considering launching a new virtual reality (VR) gaming platform. The development of the VR platform is expected to cost $500 million and will take three years to complete. Once launched, Facebook anticipates generating annual revenues of $200 million and operating expenses of $150 million for the next five years. Calculate the internal rate of return (IRR) of the VR gaming platform project for Facebook, Inc.

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