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 $7 million at time zero. The project is expected to generate ONLY ONE positive cash flow of $15 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 16% on investments such as this. What comes closest to the IRR on this project? 11.43% 8.45% 11.70% 2.45% 13.54%