3) Albury Company is adding a new assembly line at a cost of $8.5 million. The company expects the project to generate c

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3)
Albury Company is adding a new assembly line at a cost of $8.5
million. The company expects the project to generate cash flows of
$2 million, $3 million, $4 million, and $5 million over the next
four years. Its cost of capital is 16 percent. What is the internal
rate of return that Albury can earn on this project? (Round to the
nearest percent.) HINT: Use a financial calculator or the Excel
function: =IRR(values,[guess])
Select one:
A.
18%
B.
19%
C.
20%
D.
21%