Kiley Electronics Is Considering a Project That Has the Following

Kiley Electronics is considering a project that has the following cash flow data. What is the project's IRR? Note that a project's IRR can be less than the cost of capital (and even negative) , in which case it will be rejected. $$\begin{array}{l}\begin{array} { l } \text { Year } \\\text { Cash flows }\end{array}\begin{array} { c c c c } 0 & 1 & 2 & 3 \\\hline - \$ 1,100 & \$ 450 & \$ 470 & \$ 490\end{array}\end{array}$$

A) 9.70%
B) 10.78%
C) 11.98%
D) 13.31%
E) 14.64%

Correct Answer:

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