Question

You are evaluating a proposed project for your company. The project is expected to generate the following end-of-year cash flows :
0 -$3000
1 $300
2 $500
3 $600
4 $600
5 $800
6 $800
7 $800
8 $300
Calculate the project's internal rate of return (IRR).
a) 9.99%
b) 9.41%
c) 10.01%
d) 10.38%
e) 12.45%