Modern Refurbishing Inc A) 1313%
B) 14

Multiple Choice

Modern Refurbishing Inc.is considering a project that has the following cash flow data.What is the project's IRR? Note that a project's IRR can be less than the cost of capital (and even negative) , in which case it will be rejected. $$\begin{array} { l c c c c c } \text { Year } & 0 & 1 & 2 & 3 & 4 \\\hline \text { Cash flows } & - \$ 850 & \$ 300 & \$ 290 & \$ 280 & \$ 270\end{array}$$

A) 13.13%
B) 14.44%
C) 15.89%
D) 17.48%
E) 19.22%