Pharoah, Inc., a resort management company, is refurbishing one of its hotels at a cost of $4,668,217. Management expect

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answerhappygod
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Pharoah, Inc., a resort management company, is refurbishing one of its hotels at a cost of $4,668,217. Management expect

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Pharoah, Inc., a resort management company, is refurbishing oneof its hotels at a cost of $4,668,217. Management expects that thiswill lead to additional cash flows of $1,075,000 for the nextsix years. What is the IRR of this project? If the appropriate costof capital is 12 percent, should Pharoah go ahead withthis project? (Round answer to 2 decimal places,e.g. 5.25%.)
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