Mode Publishing is considering a new printing facility that will involve a large initial investment and then result in a series of positive cash flows for six years. The estimated cash flows are as follows: Initial Investment ? Cash Flow in Year 1 $250 million Cash Flow in Year 2 $275 million Cash Flow in Year 3 $300 million Cash Flow in Year 4 $325 million Cash Flow in Year 5 $350 million Cash Flow in Year 6 $350 million What will be this project's Internal Rate of Return, if the project is expected to have a payback period of 4.75 years?

Answer

		9.80%
		8.02%
		6.27%
		7.79%