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? $$\begin{array} { c c } \underline{\text { Year }} & \underline{\text { Cash Flow }} \\0 & - \$ 123,400 \\1&\$ 36,200 \\2 & \$ 54,800 \\3 & \$ 48,100\end{array}$$

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