What is internal rate of return

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Without using excel functions or a finance calculator complete the following question showing all steps:

Franchising, Inc. is considering a major investment. The investment will have an initial cost of $630,000 and will be depreciated straight line to a zero book value over the life of the project. The cash inflows generated by the project are estimated at $255,000 for the first three years and $25,000 for the following five years. What is the internal rate of return?

Reference no: EM131914988

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