A firm invested $15,000 in a project that appeared to have excellent potential unfortunately a lengthy labor dispute in Year 3 resulted in costs that exceeded benefits by $8000. The cash flow for the project is as follows:
Year Cash Flow
0.................... -$15,000
1......................+10,000
2.......................+6,000
3........................-8,000
4.......................+4,000
5.......................+4,000
6.......................+4,000
Compute the rate of return for the project