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The Dallas Development Corporation is considering the purchase of an apartment project for $110,000. They...

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The Dallas Development Corporation is considering the purchase of an apartment project for $110,000. They estimate that they wilt receive $16,750 at the end of each year for the next 10 years. At the end of the 10th year, the apartment project will be worth nothing Required: a. If Dallas purchases the project, what will be its intemal rate of return, compounded annually? Note: Do not round intermediate calculations and round your final answer to 2 decimal places. b. If the company insists on an 8 percent return compounded annually on its investment, is this a good investment

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