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A small firm is considering purchasing a $10,000 asset that is expected to generate free cash flow of $3,000 per year for the first 3
A small firm is considering purchasing a $10,000 asset that is expected to generate free cash flow of $3,000 per year for the first 3 years, $2,000 per year for the following two years, and $1,000 in year 6. If this decision is associated with a project that has a required rate of return of 13.75%, compute the internal rate of return (IRR) of the project. Round to the nearest 0.01, in percentage terms
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