Page 1: JT Industries may start basing decisions on a project's internal rate of return (IRR) rather than its NPV. The firm is considering investing in a new project: Project Millenium. The project's expected net cash flows are shown below: 1 2 2 Page 2: 2 3 4 + + 3 4 + #2,000 300 $1,100 * 800 $600 Page 3: 5 6 Assume JT's required rate of return for this project is 7%. What is the IRR of the proposed project? Page 4: a) 16.49% 7 8 b) 14.11% Page 5: Oc) 13.51% 9 10 d) 12.38% e) 13.97% 11 80 888 & % 5 # 3 9 8 $ 4 7 6