Smoot Automotive has implemented a new project that has an initial cost, and then generates inflows of P10,000 a year for the next seven (7) years. The project has a payback period of 4.0 years. 37....

Smoot Automotive has implemented a new project that has an initial cost, and then generates inflows of P10,000 a year for the next seven (7) years. The project has a payback period of 4.0 years.

37. What is the project's internal rate of return (IRR)?