What is$($are$)$the IRR$($s$)$for Machine ITEC over a$4-$year project life with the following details:

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Machine ITEC

Initial cost

$$550,000$

Machine life$($in years$)$

$2$

Salvage value

$25\%$of initial cost

Benefits$($first year$)$

$$350,000$

Costs$($first year$)$

$$85,000$

Inflation

$5\mathrm{.}50\%$

Rate of increase in benefits

$6\mathrm{.}50\%$

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Group of answer choices

Three IRRs$-5\mathrm{.}3\%,15\mathrm{.}5\%,$ and $22\mathrm{.}9\%$

Only one IRR$-15\mathrm{.}5\%$

Two IRRs$-5\mathrm{.}3\%$ and$22\mathrm{.}9\%$

Only one IRR $-5\mathrm{.}3\%$