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Luke wants to take classes at the local community college in the hopes of getting a job that pays $40,000 after he finishes. He expects to earns $15,000 per period if he just works for his mom's company. The school's cost of attendance is $3,000 and only lasts one period.
Calculate his internal rate of return assuming that Luke must pay for school immediately, cannot work while going to school, and will work for 1 period after he finishes school.
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