I am considering two mutually exclusive 3-yearr projects. Project A requires an investment in equipment of $120,000 and will produce net incomeof $20,000 per year. Project B requires an investment in equipment of $90,000 and produces net incomeof $16,000 per year. Each project is 3 years and requires a $5,000 investment in inventory. The firm usesstraight-line depreciation and depreciates all assets to zero. The discount rate is 12%. Ignore taxes.

what is the IRR of project B?

my professor says it is 23.14% but online people disagree. what do you think it is, and why does my professor disagree? please show the steps and formulas to achieve this without excel. thank you