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

Question

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.
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__________ % per year

Quizplus · Accepted Answer

The Answer of 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.
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__________ % per year

Executive Limousine Service Recently Acquired Limousines Worth $120,000