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Can anyone help me understand why the first answer of 14% is wrong? Blossom Company is considering a long-term investment project called ZIP. ZIP will

Can anyone help me understand why the first answer of 14% is wrong?image text in transcribed

Blossom Company is considering a long-term investment project called ZIP. ZIP will require an investment of $121,800. It will have a useful life of 4 years and no salvage value. Annual cash inflows would increase by $80,000, and annual cash outflows would increase by $38,000. The company's required rate of return is 12%. Click here to view PV table. Calculate the internal rate of return on this project. (Round answers to 0 decimal places, e.g. 15\%.) Internal rate of return on this project is between % and %. Determine whether this project should be accepted? The project be accepted. Blossom Company is considering a long-term investment project called ZIP. ZIP will require an investment of $121,800. It will have a useful life of 4 years and no salvage value. Annual cash inflows would increase by $80,000, and annual cash outflows would increase by $38,000. The company's required rate of return is 12%. Click here to view PV table. Calculate the internal rate of return on this project. (Round answers to 0 decimal places, e.g. 15\%.) Internal rate of return on this project is between % and %. Determine whether this project should be accepted? The project be accepted

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