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Your firm is considering a project which costs $1600 today to launch and will generate cash flows of $200 a year for N years (the

Your firm is considering a project which costs $1600 today to launch and will generate cash flows of $200 a year for N years (the first $200 cash flow occurs one year from today). Your firm uses the IRR method for choosing projects and has a hurdle rate of 13% (i.e. it requires its projects to have an IRR of at least 13% in order to be chosen). Is there an N large enough so that the project will be chosen? If yes, find the minimum value of N so that the project will be chosen. If not, explain why not.

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