Present Value of an Annuity of $1 in Arrears

Present value of an Annuity of $1 in Arrears

- Ruby Company is considering a project with an initial investment of $300,000 that will yield annual net cash flows of $90,580 and will be depreciated at $75,000 per year over its 4 year life.What is the internal rate of return? (Note: Round the discount factor to three decimal places.)

A) 6%
B) 8%
C) 10%
D) 12%
E) 14%