Answered step by step
Verified Expert Solution
Question
1 Approved Answer
A project costs $328 and subsequent cash flows for dates 2 and 3 are $94 and $70, respectively. The only other cash flow is at
A project costs $328 and subsequent cash flows for dates 2 and 3 are $94 and $70, respectively. The only other cash flow is at date 1, and the project's internal rate of return is 3.77%. What is the amount of the date 1 cash flow? Round your final answer to 2 decimal places and leave out the "$" sign. If negative (an outflow), include a "-" sign.
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started