Your lawyer presents you with a three year investment. You must invest
Your lawyer presents you with a three year investment. You must invest $1,000 immediately, but you are promised after-tax cash flows of $600 after one year and another $600 after two years.
What is the IRR of the investment? (Round answer to nearest percent).
A) 10%
B) 11%
C) 12%
D) 13%
E) 14%
ANSWER
D
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