what is IRR

A project will produce after-tax operating cash flows of $31,200 each year for 7 years. The initial investment is $204,900 for the equipment for this project. The after-tax salvage value of the equipment has been calculated to be $62,000 at the end of the project. There are no working capital requirements. What is the NPV of this project ..inn an 11% racuited return? What is the IRR? NPV=176,883.34204,900NPV=176,883.34204,900NPV=28,016.66