Datta Computer Systems Is Considering a Project That Has the Following

Multiple Choice

Datta Computer Systems is considering a project that has the following cash flow data.What is the project's IRR? Note that a project's projected IRR can be less than the WACC (and even negative) ,in which case it will be rejected. $$\begin{array} { l c c c c } \text { Year } & 0 & 1 & 2 & 3 \\\hline \text { Cash flows } & - \$ 1,050 & \$ 450 & \$ 470 & \$ 490\end{array}$$
?

A) 12.69%
B) 13.98%
C) 15.58%
D) 18.15%
E) 16.07%