Find IRR (internal rate of return) of project B.

1. 20%

2. -498.11

3. 39.24%

4. 374.02

Time 0 1 2 Expected Net Cash Flows Project A Project B -800 -600 500 -200 200 800 200 400 -600 400 -200 400 3 4 5 Project A 11% Project B 20% WACC