Modern Refurbishing Inc $$\begin{array} { l c c c c c } \text { Year } & 0 & 1 & 2 & 3 & 4 \\\text { Cash Elows } & - \$850 & \$300 & \$290 & \$200 & \$270\end{array}$$

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 WACC (and even negative) ,in which case it will be rejected. $$\begin{array} { l c c c c c } \text { Year } & 0 & 1 & 2 & 3 & 4 \\\text { Cash Elows } & - \$850 & \$300 & \$290 & \$200 & \$270\end{array}$$

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