问一道题：NO.PZ201601200500001203 第3小题 [ CFA II ]

B.

19.7%.

C.

20.3%.

解释：

C is correct.

This is the IRR for a project with the following cash flows: ($€$70,000) in Year 0, $€$29,750 at Years 1 and 2, and $€$43,000 at Year 3.

The IRR of 20.29% is readily found with a financial calculator:

$70,000=\frac{29,750}{{(1+IRR)}^1}+\frac{29,750}{{(1+IRR)}^2}+\frac{43,000}{{(1+IRR)}^3}$ 

You can also "reverse-engineer" the answer using the choices given in the question.