1.Use the following table,

	Present Value of an Annuity of 1
Period	8%	9%	10%
1	0.926	0.917	0.909
2	1.783	1.759	1.736
3	2.577	2.531	2.487

A company has a minimum required rate of return of 8%. It is considering investing in a project that costs $410022 and is expected to generate cash inflows of $162000 each year for three years. The approximate internal rate of return on this project is

10%.

the IRR on this project cannot be approximated.

9%.

8%.