Day Interiors Is Considering a Project with the Following Cash $$\begin{array} { c r } \text { Year } & \text { Cash Flow } \\0 & - \$ 114,600 \\1 & 35,900 \\2 & 50,800 \\3 & 45,000\end{array}$$

Multiple Choice

Day Interiors is considering a project with the following cash flows.What is the IRR of this project? $$\begin{array} { c r } \text { Year } & \text { Cash Flow } \\0 & - \$ 114,600 \\1 & 35,900 \\2 & 50,800 \\3 & 45,000\end{array}$$

A) 6.42 percent
B) 7.03 percent
C) 7.48 percent
D) 8.22 percent
E) 8.56 percent