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Suppose your firm is considering Investing in a project with the cash flows shown below, that the required rate of return on projects of this

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Suppose your firm is considering Investing in a project with the cash flows shown below, that the required rate of return on projects of this nisk class is 7 percent, and that the maximum allowable payback and discounted payback statistics for the project are 3.5 and 4.5 years, respectively Time: Cash flow: 51,199 $2,390 3 $1,590 4 $1,590 5 $1,398 5 $1,190 Use the IRR decision rule to evaluate this project (Negative amount should be indicated by a minus sign. Round your answer to 2 decimal places.) IRR

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