Finch Corporation purchased an asset costing $12,000. Annual operating cash inflows generated from the asset are expected to be $2,168 each year for eight years. No salvage value is expected at the end of the asset's life. Using time value of money tables, which of the following rates is closest to the internal rate of return on the project?
A) 8%
B) 9%
C) 10%
D) 16%
B
Business
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