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Big Sean wants to buy an oil well, Tupac is willing to sell one of...

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Accounting

Big Sean wants to buy an oil well, Tupac is willing to sell one of his oil wells for $3 million. The well should produce for another 10 years and it is expected to generate profits of $600,000 annually for the first six years and $500,000 for each of the last 4 years. What is the IRR of Tupac's investment?


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