Ford Motor Company is considering producing a new extremely limited-edition version of the Edsel. The initial costs associated with retooling a manufacturing plant, redesign, initial marketing, raw materials and other costs would be $6 million at time zero.

The project is expected to generate only one positive cash flow of $19 million. Given the complexity of the project, the cars will not be ready until 5 years from now. Ford estimates that shareholders will require to earn 19% on investments such as this. What comes closest to the IRR on this project?

25.93

22.43

4.54

21.67

9.54