Question: You are considering whether you should start a mini apple farm. It requires an initial investment of $55,000; the farm will bring in $22,000 in

You are considering whether you should start a mini apple farm.

You are considering whether you should start a mini apple farm. It requires an initial investment of $55,000; the farm will bring in $22,000 in year 1; the cash inflows will increase by 5% in years 2 and 3. There are no cash inflows after Year 3. What is the project's Internal Rate of Return? 8.9% 14.4% 10.0% 12.3% 9.7%

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