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:

Lean and Streamlined

Approaches or systems that are designed to maximize efficiency by eliminating waste and unnecessary processes.

Technology Control

The management and regulation of the development, application, and dissemination of technology.

Formal Authority

The power given to an individual or entity based on their position within an organization, enabling them to enforce rules and make decisions.

Bureaucracy

A systematic administrative system governing any large organization, characterized by fixed rules, hierarchy, and detailed procedures.