A company has a minimum required rate of return of 10%. It is considering investing in a project that costs $91,116 and is expected to generate cash inflows of $38,000 each year for three years. The approximate internal rate of return on this project is

12%

8%

10%.

9%.

Using the data from the previous question, should the company invest in the project?

Group of answer choices

Yes

No

Not enough information given to answer the question