What Is the Internal Rate of Return on an Investment

Multiple Choice

What is the internal rate of return on an investment with the following cash flows?
$\begin{array}{|l|l|}\hline \text { Year } & \text { Cash Flow } \\\hline 0 & -£ 123,400 \\\hline 1 & £ 36,200 \\\hline 2 & £ 54,800 \\\hline 3 & £ 48,100 \\\hline\end{array}$

A) 5.93%
B) 5.96%
C) 6.04%
D) 6.09%
E) 6.13%