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Business, 08.04.2021 21:20 dmoore222

Crestco Car Mechanics, Inc. has decided to sell its computer diagnostic equipment and instead to hire more mechanics to work on cars. The sale of the equipment will bring in the amount of $800 immediately. The hiring of the new mechanics will require the company to make an additional investment in the business of $181 (an outflow) at the end of each year, beginning in one year, that continues for a total of 6 consecutive years. Calculate the internal rate of return (IRR) of this unusual project.

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