Use the Following Table, a Company Has a Minimum

Multiple Choice

Use the following table, A company has a minimum required rate of return of 8%. It is considering investing in a project that costs $227,790 and is expected to generate cash inflows of $90,000 each year for three years. The approximate internal rate of return on this project is

A) 8%.
B) 9%.
C) 10%.
D) The IRR on this project cannot be approximated.