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Peri Corporation is considering an investment opportunity with the following expected net cash inflows: Year 1,...

Peri Corporation is considering an investment opportunity with the following expected net cash inflows: Year 1, $260,000; Year 2, $340,000; Year 3, $390,000. The company uses a discount rate of 11%, and the initial cost of the investment is $770,000.

The IRR of the project will be ________.

a

between 11% and 12%

b

between 12% and 13%

c

more than 13%

d

less than 11%

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