George Steele (nicknamed The Animal by his friends) is considering investing in a new project. The...

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George Steele (nicknamed "The Animal" by his friends) is considering investing in a new project. The project will need an initial investment (today) of $2,000,000 and will generate $610,000 (after-tax) annual operating cash flows for the next four years. The first $610,000 occurs one year from today and the last occurs four years from today. Calculate the IRR for the project. George Steele (nicknamed "The Animal" by his friends) is considering investing in a new project. The project will need an initial investment (today) of $2,000,000 and will generate $610,000 (after-tax) annual operating cash flows for the next four years. The first $610,000 occurs one year from today and the last occurs four years from today. Calculate the IRR for the project.

Answer rating: 100% (QA)

To calculate the Internal Rate of Return IRR we need to set up a formula that takes into account the ... View the full answer