Find the internal rate of return (IRR) for the following project. The project requires an initial investment of $10,900 and provides 5 annual cash inflows of $28,900. Assume a cost of capital of 6%. The IRR of the project is %. (Round to two decimal places.) 1 View an Example Question Help Find the internal rate of return (IRR) for the following project. The project requires an initial investment of $11,800 and provides 5 annual cash inflows of $29,200. Assume a cost of capital of 7.3%. The IRR can be solved from: un $29,200 $29,200 $29,200 $29,200 NPV=0= (1 + IRR) (1 + IRR)2 (1 + IRR)3 (1 + IRR) - + = + $29,200 644 (1 + IRR)5* IRR = 246.97% The formula approach to finding IRR must be solved by trial-and-error. A much easier method is to use a financial calculator. The financial calculator inputs are: N = 5 PMT = $29,200 PV = - $11,800 CPT I = 246.97% Question is complete