Question $3$

You are considering a project with an initial cash outlay of $$5000$ and expected free cash

flows of $$2000,3000,2000,3000,3000,2000,2000$ and $$3000$ at the end of each year for $8$

years. What is internal rate of return $($IRR$)$ on this project?

$46\mathrm{.}2609\%$

$11\mathrm{.}5652\%$

$57\mathrm{.}8261\%$

$34\mathrm{.}6957\%$