Can someone please explain the formula and steps to get the correct answer above? The calculator example explained initially on this question is hard to follow.

Thanks,

What is the true IRR of the project with the following cash flows if the firm would be able to reinvest the cash inflows at a rate of return equal to 10% ? Year 0: $400 Year 1: $100 Year 2: \$200 Year 3: $300 Select one: a. 17.59% b. 17.02% c. 16.78% d. 18.02%