A project has the following cash inflows $40,000; $60,500; $70,000; and $48,800 for years 1 through 4, respectively. The initial cash outflow is $184,000. Which of the following four statements is...

A project has the following cash inflows $40,000; $60,500; $70,000; and $48,800 for years 1 through 4, respectively. The initial cash outflow is $184,000. Which of the following four statements is correct concerning the project internal rate of return (IRR)?