Suppose the project requires initial investment of $10000 and expects to receive annual end-of-year perpetual payments. The first payment is estimated to be $872 and we expect the payment to grow at a constant rate of 2.4 percent annually. Find the IRR of this project. Enter your final answer as a percentage without "%" (e.g., enter 6.56% as 6.56). Keep two decimal places.

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Here are two methods to find the IRR of the project Method 1 Using the formula The IRR is the discou... View the full answer