Use the Following Table for Questions 109-111 $\text { Present Value of an Annuity of } 1$

question 9

Multiple Choice

Use the following table for questions 109-111. $\text { Present Value of an Annuity of } 1$
$\begin{array}{rrrr}\text { Periods } & 8 \% & 9 \% & 10\%\\1 & .926 & .917 & .909 \\2 & 1.783 & 1.759 & 1.736 \\3 & 2.577 & 2.531 & 2.487\end{array}$
-A company has a minimum required rate of return of 8%. It is considering investing in a project that costs $91,116 and is expected to generate cash inflows of $36,000 each year for three years. The approximate internal rate of return on this project is

• A) 8%.
• B) 9%.
• C) 10%.
• D) less than the required 8%.

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Definitions:

Drug Users

Individuals who consume substances, which can alter mood, perception, or consciousness, including both legal (prescription) drugs and illegal substances.

African Immigrants

Individuals from Africa who have moved to a different country, bringing diverse cultures, languages, and perspectives to their new communities.

Black Families

Family units or structures that are part of the African American community or those of African descent.

Atlantic Slave Trade

The systematic importation of African slaves from their native continent across the Atlantic Ocean to the New World, largely fueled by rising demand for sugar, rice, coffee, and tobacco.