Aroma Candles, Inc. is evaluating a project with the following cash flows. Calculate the IRR of the project. (Round to the nearest whole percentage.) Year Cash Flows
0 ($120,000)
1 $30,000
2 $70,000
3 $90,000

Question

Quizplus · Accepted Answer

Using a financial calculator or Excel function, the IRR of the project is calculated to be approximately 22.7%. The closest whole percentage to this is 23%, which is option B. Therefore, the best choice is B.