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Business, 20.10.2020 20:01 jdkrisdaimcc11

The Utah Mining Corporation is set to open a gold mine near Provo, Utah. According to the treasurer, Monty Goldstein, "This is a golden opportunity." The mine will cost $3,200,000 to open and will have an economic life of 11 years. It will generate a cash inflow of $425,000 at the end of the first year, and the cash inflows are projected to grow at 8 percent per year for the next 10 years. After 11 years, the mine will be abandoned. Abandonment costs will be $480,000 at the end of Year 11. What is the IRR for the gold mine? (Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places (e. g., 32.16).)

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The Utah Mining Corporation is set to open a gold mine near Provo, Utah. According to the treasurer,...
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