Aroma Candles, Inc. is evaluating a project with the following cash flows. Calculate the IRR of the project. (Round to the nearest whole percentage.)
Year Cash Flows
0 ($120,000)
1 $30,000
2 $70,000
3 $90,000
A) 18%
B) 23%
C) 28%
D) 33%
Answer: B
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