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Robert's Produce Market is considering an expansion project with an initial cost of $196,500. The project will not produce any cash flows for the first
Robert's Produce Market is considering an expansion project with an initial cost of $196,500. The project will not produce any cash flows for the first year. Starting In Year 2, the project will produce cash inflows of $127.500 a year for three years. This project is risky, so the firm has determined the appropriate discount rate is 15.5 percent. What is the project's internal rate of return? Round your answer and enter it as a decimal to 2 places. Do NOT use a % sign. For example, if the answer is 12.34%, enter your answer as 12
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