Levin Company Is Considering a Project That Has the Following

Multiple Choice

Levin Company is considering a project that has the following cash flow data.What is the project's IRR? $\begin{array}{l}\begin{array}{l}\text { Year: } \\\text { Cash flows: }\end{array}\begin{array}{cccc}0 & 1 & 2 & 3 & 4 \\\hline-\$ 1,000 & \$ 400 & \$ 400 & \$ 400 & \$ 400\end{array}\end{array}$

A) 15.94%
B) 17.71%
C) 19.68%
D) 21.86%