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Newport Department Store is considering development of an e-commerce business. The company estimates that development will require an initial outlay of $1,260,000. Other cash flows

Newport Department Store is considering development of an e-commerce business. The company estimates that development will require an initial outlay of $1,260,000. Other cash flows will be as follows: Year 1 ($1,131,300) Year 2 $160,000 Year 3 $840,000 Year 4 $990,000 Year 5 $1,140,000 Assuming the company limits its analysis to five years, estimate the internal rate of return of the e-commerce business

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