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Tony Corp. plans to invest $1 million in a project. It expects to sell the project at the end of three years, for proceeds equal to approximately $1,158,000. Which of the following is closest to the internal rate of return?
Composite Volcano
A type of volcano built up by many layers (strata) of hardened lava, tephra, pumice, and volcanic ash.
Felsic Lava
Lava that is high in silica content, resulting in high viscosity and explosive eruptions; it is characteristic of volcanoes at continental margins.
Tephra
Rock fragments and particles ejected by a volcanic eruption which include ash, lapilli, and volcanic bombs.
Composite Volcanoes
Volcanoes characterized by explosive eruptions and composed of alternating layers of lava and volcanic ash.
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