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Joetz Corporation has gathered the following data on a proposed investment project (Ignore income taxes
Joetz Corporation has gathered the following data on a proposed investment project (Ignore income taxes.):
Investment required in equipment$40,000
Annual cash inflows $10,000
Salvage value of equipment$0
Life of the investment 15years
Required rate of return 10%
The company uses straight-line depreciation on all equipment. Assume cash flows occur uniformly throughout a year except for the initial investment.
The internal rate of return of the investment is closest to:
Multiple Choice
- 26%
- 24%
- 22%
- 28%
Expert Solution
Correct option is 2). 24%
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