Period 1 2 3 Present Value of an Annuity of 1 8% 0.926 1.783 2.577 9% 0.917 1.759 2.531 10% 0.909 1.736 2.487 A company has a minimum required rate of return of 8%. It is considering investing in a project that costs $404960 and is expected to generate cash inflows of $160000 each year for three years. The approximate internal rate of return on this project is O the IRR on this project cannot be approximated. O 8%. O 10%. O 9%.

A company has a minimum required rate of return of 8%. It is considering investing in a project that costs $404960 and is expected to generate cash inflows of $160000 each year for three years. The approximate internal rate of return on this project is the IRR on this project cannot be appraximated. 8%. 10%. 9%