In: Finance
Project L costs $65,501.59, its expected cash inflows are $13,000 per year for 11 years, and its WACC is 12%. What is the project's IRR? Round your answer to two decimal places.
| Cash flows | Year | 
| (65,501.59) | 0 | 
| 13,000.000 | 1 | 
| 13,000.000 | 2 | 
| 13,000.000 | 3 | 
| 13,000.000 | 4 | 
| 13,000.000 | 5 | 
| 13,000.000 | 6 | 
| 13,000.000 | 7 | 
| 13,000.000 | 8 | 
| 13,000.000 | 9 | 
| 13,000.000 | 10 | 
| 13,000.000 | 11 | 
Use IRR function in Excel
IRR = 15.95%