Brooklyn Tables is considering an equipment investment that will cost $960,000. Projected net cash inflows over the

Question:

Brooklyn Tables is considering an equipment investment that will cost $960,000. Projected net cash inflows over the equipment's three-year life are as follows: Year 1: $484,000; Year 2: $388,000; and Year 3: $286,000. Brooklyn Tables wants to know the equipment's IRR.
Requirement
Use trial and error to find the IRR within a 2% range.
Optional: Use a business calculator or spreadsheet to compute the exact IRR.