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Please go to: http://ww2.cfo.com/strategy/2004/10/internal-rate-of-return-a-cautionary-tale/and read Internal Rate of Return: A Cautionary Tale by John C. Kelleher and Justin J. MacCormack. Explain the meaning and importance

Please go to:

http://ww2.cfo.com/strategy/2004/10/internal-rate-of-return-a-cautionary-tale/and read "Internal Rate of Return: A Cautionary Tale" by John C. Kelleher and Justin J. MacCormack.

  1. Explain the meaning and importance of "interim cash flows" together with their impact on the reliability of IRR as a decision method in capital budgeting.
  2. What is your conclusion on the future of IRR as a project evaluation method? Explain.

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