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You are considering an investment opportunity that requires an initial investment of 85$ million today....

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Finance

You are considering an investment opportunity that requires an initial investment of 85$ million today. One year from now, it will pay 9$ million, and the payments will grow by 6% every year after that forever (i.e. in perpetuity). The cost of capital is 14%. What is the IRR? Give your answer in percent, to one and only one decimal place, and with no percentage sign. For example, 6.2, 18.9 or 47.6

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