(IRR

with uneven cash

flows)

The Tiffin Barker Corporation is considering introducing a new currency verifier that has the ability to identify counterfeit dollar bills. The required rate of return on this project is

13

percent. What is the IRR on this project if it is expected to produce the following free cash flows:

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?The IRR on this project is

nothing%.

(Round to two decimal places.)

Enter your answer in the answer box.

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Data Table

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in order to copy its contents into a spreadsheet.)

Initial outlay	$1,111,492
FCF in year 1	260,000
FCF in year 2	380,000
FCF in year 3	380,000
FCF in year 4	260,000
FCF in year 5	260,000
FCF in year 6	100,000