QUESTION 25 What is the internal rate of return (IRR) of a project costing $3,000 (at year 0); having after-tax cash flows of $1,500 in each of the two years of its two- year life; and a salvage value of $600 at the end of the second year in addition to the $1,500 cash flow? 13.21% 16.06% 12.32% 17.23%