Question 15 Use the following table, Present Value of an Annuity of 1 1090 0.909 1.736 2.487 Period 8% 0.926 1.783 2.577 9% 0.917 1.759 2.531 2 3 A company has a minimum required rate of return of 8%. It is considering investing in a project that costs $349278 and is expected to generate cash inflows of $138000 each year for three years. The approximate internal rate of return on this project is the IRR on this project cannot be approximated. 8% 9% 1090