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Lawrence Corp. is considering the purchase of a new piece of equipment. When discounted at...

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Accounting

Lawrence Corp. is considering the purchase of a new piece of equipment. When discounted at a hurdle rate of 17%, the project has a net present value of $24,670. When discounted at a hurdle rate of 21%, the project has a net present value of ($29,010).

The internal rate of return of the project is:

greater than 21%.

zero.

between 17% and 21%.

between zero and 17%.

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