World Airlines is considering offering wifi inflight service. The cost to update technology on all of their aircraft will be ($850,000) at Year 0. Over the next three years the airline expects passengers to spend $450,000 in Year 1; $320,000 in Year 2; and $280,000 in year 3 to use the service. What is the internal rate of return (IRR) for the project?

		4.88%
		7.53%
		12.46%
		13.71%
		23.41%