Problem $13-19$ IRR $($LG$13-4)$

Suppose your firm is considering investing in a project with the cash flows shown below, that the required rate of return on projects of this risk class is $8$ percent, and that the maximum allowable payback and discounted payback statistics for the project are $3\mathrm{.}5$ and $4\mathrm{.}5$ years, respectively.

$\backslash$table$[[$Time:$,0,1,2,3,4,5,6],[$Cash flow:,$-$$$6,800,$$$1,140,$$$2,340,$$$1,540,$$$1,540,$$$1,340,$$$1,140$