A company is considering a 5-year project. It plans to invest $62,000 now and it forecasts cash flows for each year of $16,200. The company requires a hurdle rate of 12%. Calculate the internal rate of return to determine whether it should accept this project. Selected factors for a present value of an annuity of 1 for five years are shown below:
Definitions:
Lewis Tappan
A prominent 19th-century abolitionist and a founder of the American Anti-Slavery Society who also played a key role in the Amistad case.
Colonization Society
A group or organization established in the early 19th century advocating for the migration of free African Americans to Africa; the American Colonization Society is a prime example.
William Lloyd Garrison
An American abolitionist who was prominent in the anti-slavery movement and is well known for founding and editing the abolitionist newspaper "The Liberator."
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