Question: Suppose you are considering a project that requires an initial investment of $3,000,000. If the project will produce an annual cash flow of $380,000 for

Suppose you are considering a project that requires an initial investment of $3,000,000. If the project will produce an annual cash flow of $380,000 for 10 years, what is this projects IRR? State your answer as a percentage with two decimals, X.XX% (note the percentage sign cannot be included).

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