Eli Purchased an Investment for $1,000 His Internal Rate of Return Was
A) 10

Multiple Choice

Eli purchased an investment for $1,000. It generated the following stream of cash flows. $$\begin{array} { | l | l | } \hline \text { End of year 1 } & \$ 300 \\\hline \text { End of year } 2 & \$ 400 \\\hline \text { End of year 3 } & \$ 500 \\\hline\end{array}$$ His internal rate of return was

A) 10.65%.
B) 6.67%.
C) 9.70%.
D) 8.90%.