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Suppose your firm is considering investing in a project with the cash flows shown below,...

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Suppose your firm is considering investing in a project with the cash flows shown below, that the required rate of return on projects of this risk class is 8 percent, and that the maximum allowable payback and discounted payback statistics for the project are 2.0 and 3.0 years, respectively. Time: Cash flow: L2 1 $1,020 $2,220 3 $1,420 $6,500 4 $1,420 5 $1,220 6 $1,020 Use the IRR decision rule to evaluate this project. (Negative amount should be indicated by a minus sign. Round your answer to 2 decimal places.) IRRI

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