When a project has uneven projected cash inflows over its life,an analyst may be forced to use ____ to find the project's internal rate of return.

Question

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A trial-and-error approach involves testing different discount rates until the present value of the cash inflows equals the initial investment. This is often necessary when there are uneven projected cash flows as it may not be possible to solve for the internal rate of return mathematically.

When a Project Has Uneven Projected Cash Inflows Over Its