Calculate the IRR:

Net cashflow for a fishing project. The shareholders are prepared to have a cut off point of 7 years. The following table is the estimated net cashflows. Year 1 $20 year 2 $140 year 3 $260 year 4 $850 year 5 $1,000 year 6 $740 year 7 $600. The initial capital required for the project is $1,950,00. The cost of capital is 12%.