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Spence Company is considering a project that has the following cash flow data. What is the project's IRR? Note that a project's IRR can be

Spence Company is considering a project that has the following cash flow data. What is the project's IRR? Note that a project's IRR can be less than the WACC or negative, in both cases it will be rejected. Year 0 1 2 3 4 Cash flows -$1,050,000 $400,000 $400,000 $405,000 $455,000 Group of answer choices 19.60% 20.73% 18.60% 21.60%

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