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Complete a spreadsheet (by hand or by Excel) and then determine the after-tax internal rate of...

Complete a spreadsheet (by hand or by Excel) and then determine the after-tax internal rate of return by hand (i.e. no financial calculator or Excel routine). For this problem assume a 7-year property, MACRS depreciation is used, 21% corporate tax rate, an initial cost of $800,000, an annual benefit of $150,000 and a salvage value of $100,000. Do not forget the recaptured depreciation.

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