Refer to Problem 2-28 at the end of Chapter 2. Assume that the capital acquisitions in that problem were made at the beginning of fiscal year 2019. It is now the end of fiscal year 2021. Prepare a...

Refer to Problem 2-28 at the end of Chapter 2. Assume that the capital acquisitions in that problem were made at the beginning of fiscal year 2019. It is now the end of fiscal year 2021. Prepare a schedule showing those capital assets, their cost, their useful life, the accumulated depreciation at the beginning of 2021, the depreciation expense charged for 2021 (assuming straight-line depreciation and no salvage value), the accumulated depreciation as of the end of the year, and the net book value (cost less accumulated depreciation) as of the end of 2021. Use a spreadsheet program such as Excel. As River Country may dispose of the items at different times, note that it is necessary to track each item separately.

Problem 2-28

What is the internal rate of return for the stream of cash flows shown below?