Miller Brothers is considering a project that will produce cash inflows of $61,500,$72,800,$84,600,and $68,000 a year for the next four years,respectively.What is the internal rate of return if the initial cost of the project is $225,000?
A)9.39 percent
B)10.22 percent
C)11.47 percent
D)11.62 percent
E)12.24 percent

Question

Quizplus · Accepted Answer

The IRR is defined as the interest rate that makes the NPV equal zero.

Miller Brothers Is Considering a Project That Will Produce Cash