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Executive Limousine Service Recently Acquired Limousines Worth $120,000

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Executive Limousine Service recently acquired limousines worth $120,000. The projected returns over the next 3 yr, the time period the limousines will be in service, are $80,000 at the end of the first year, $60,000 at the end of the second year, and $40,000 at the end of the third year. Find the internal rate of return on the investment. Round your answer to the nearest hundredth, if necessary.

__________ % per year

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Recognize the influence of media messages and the power of media literacy.
Understand the role of media in shaping perceptions and behaviors through theories such as cultivation theory.
Comprehend the impact of media ownership on content and society.

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