You are analyzing a project with an intial investment of $353,000 and expected cash flows of $85,200, $152,500, $138,600 and $135,600 in years 1 through 4, respectively. The appropriate discount rate is 11%. Compute the internal rate of return and determine whether the project should be accepted

Multiple Choice

• The IRR is 15.66% and the project should be accepted

• The IRR is 15.66% and the project should be rejected

• The IRR is 11.45% and the project should be accepted

• The IRR is 11.45% and the project should be rejected