The internal rate of return (IRR) for a project is the discount rate at which:
the required rate of return is equal to the internal rate of return.
the project's net present value is zero.
the present value of the project's expected net cash inflows are greater than the project's initial cost.
the project's expected net cash flows generate positive net present values.
the net present value of the project is equal to the required rate of return.
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