Following information are given for a 4-year project. What should be the IRR of this project? You can assume 30% tax rate. Furthermore, this project requires NWC which is equivalent to 20% of the sales, starting in year 0. Note: distinguish between NWC and changes in NWC. Also, consider the NWC recovery at the end of project.

	Year 0	Years 1 to 4
Capital Expenditures	$100,000	-
Revenues		$80,000
Cost of Goods Sold		$20,000
Depreciation		$10,000