Ford Motor Company is considering producing a new extremely limited$-$edition version of the Edsel $($why$,$ we have no idea!$).$ The initial costs associated with retooling a manufacturing

plant, redesign, initial marketing, raw materials and other costs would be $$8$ million at time zero.

The project is expected to generate ONLY ONE positive cash flow of $$20$ million. Given the complexity of the project, the cars will not be ready until $6$ years from now. Ford estimates that

shareholders will require to earn $15\%$ on investments such as this.

What comes closest to the IRR on this project?

$11\mathrm{.}74\%$

$17\mathrm{.}85\%$

$15\mathrm{.}00\%$

$16\mathrm{.}50\%$

$4\mathrm{.}74\%$