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Initial Outlay Cash Flow in Period CF 0 CF 1 CF 2 CF 3 CF 4 $20,000 $7,730.85 $7,730.85 $7,730.85 $ 7,730.85 The IRR is

Initial Outlay

Cash Flow in Period

CF₀	CF₁	CF₂	CF₃	CF₄
$20,000	$7,730.85	$7,730.85	$7,730.85	$ 7,730.85

The IRR is approximately

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