Question $2$

$1$ pts

Four years ago, you bought a racehorse for $$1,950,000.$ At the end of each year the horse produced $$450,000$ in winnings net of all expenses and tt the end of year four you sold the horse for $$3,000,000.$ What was the IRR of the investment?

$53\mathrm{.}06\%$

$31\mathrm{.}59\%$

$40\mathrm{.}99\%$

$45\mathrm{.}40\%.$