Clear Cable Company Is Considering Investing $450,000 in Telecommunications Equipment

Clear Cable Company is considering investing $450,000 in telecommunications equipment that has an estimated life of four years with no residual value.The cash inflows are as shown below:
$$\begin{array} { | r | r | } \hline \text { Year 1 } & \$ 120,000 \\\hline 2 & 235,000 \\\hline 3 & 140,000 \\\hline 4 & \$ 98,000 \\\hline\end{array}$$ Present value of an ordinary annuity of $1:
$$\begin{array} { | c | c | c | c | c | } \hline & 12 \% & 13 \% & 14 \% & 15 \% \\\hline 1 & 0.893 & 0.885 & 0.877 & 0.87 \\\hline 2 & 1.69 & 1.668 & 1.647 & 1.626 \\\hline 3 & 2.402 & 2.361 & 2.322 & 2.283 \\\hline 4 & 3.037 & 2.974 & 2.914 & 2.855 \\\hline 5 & 3.605 & 3.517 & 3.433 & 3.352 \\\hline\end{array}$$ Present value of $1:
$$\begin{array} { | c | c | c | c | c | } \hline & 12 \% & 13 \% & 14 \% & 15 \% \\\hline 1 & 0.893 & 0.885 & 0.877 & 0.87 \\\hline 2 & 0.797 & 0.783 & 0.769 & 0.756 \\\hline 3 & 0.712 & 0.693 & 0.675 & 0.658 \\\hline 4 & 0.636 & 0.613 & 0.592 & 0.572 \\\hline 5 & 0.567 & 0.543 & 0.519 & 0.497 \\\hline\end{array}$$ Calculate the IRR of the project.Show your computations.