Question: A project which has an initial cost of $9,191 will generate the following net cash flows at the end of each year: Year 1: +$4,000

A project which has an initial cost of $9,191 will generate the following net cash flows at the end of each year:

Year 1: +$4,000

Year 2: +$3,000

Year 3: +$2,000

Year 4: +$2,000

It is known that this project has a positive NPV at the company's cost of capital of 8%. Calculate IRR of this project.

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