Mary, a project manager for ABC Inc., is reviewing a product quality improvement project.

She has determined that the project's Annual Worth of $16,320. for a period of 8 years.

She now has to calculate the IRR for the project but unfortunately she has lost some information about the cash flows.

She knows only that the project has:

a 8-year project life with an initial cost of $250,000. a set of equal revenue cash flows occurred at the end of each year for 8 years, and MARR used for calculation the Annual Worth was 5%. Find the annual revenue first and then calculate the IRR for the project = ?