Given the following annual net cash flows, determine the IRR to the nearest whole percent of a project with an initial outlay of $1,520.
Year Net Cash Flow
1 $1,000
2 $1,500
3 $ 500
a. 48%
b. 40%
c. 32%
d. 28%
Given the following annual net cash flows, determine the IRR to the nearest whole percent of a project with an initial outlay of $1,520.