A cash flow sequence has a receipt of $25,000 today, followed by three disbursements of $10,000, ST0,000 and $12,000 at the end of year one, two and three. A final receipt of S2,050 occurred at the end of year 4. The MARR is 10%. What is the precise ERR for this project? (Note: For these multiple-TRR problems, the IRR values calculated by EXCEL may be misleading and you should use the ERR method:) 25,000 2,050 3 4. 10,000 10,000 12,000