Question $17$

Tinley Company is considering a $8-$year project. the company plans to

invest $$54,160$ now and forecasts cash flows of $$8,000.$ The company

requires investments yield a discount rate of at least $10\%.$ What is the

internal rate of return?

none of the choices is correct

about $2\%$

about $5\mathrm{.}5\%$

about $8\%$

about $4\%$

Could someone please explain how to get this without using excel? Thank you!!