Question: You wish to evaluate a project requiring a $59,000 initial investment and having a useful life of seven years. What minimum annual cash inflow do

You wish to evaluate a project requiring a $59,000 initial investment

You wish to evaluate a project requiring a $59,000 initial investment and having a useful life of seven years. What minimum annual cash inflow do you need if the cost of capital is 8.1% ? If the project earns $12,400 per year, what is its IRR? Is the project acceptable? The minimum annual cash inflow necessary is $ (Round to the nearest cent.)

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