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Calculate the approximate expected internal rate of return


Calculate the approximate expected internal rate of return given the following series of expected cash flows (CF). 

Year        CF         Probability

0       -1,790,000        100%

1       1,000,000        33.3%

1       1,050,000        33.3%

1       1,100,000        33.3%

3         850,000        50%

3         850,000        50%

4         500,000        25%

4         514,000        25%

4         524,000        25%

4         554,000        25%

Select one:

a. 14.47%

b. 15.80%

c. 19.67%

d. 17.92%

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Business Management: Calculate the approximate expected internal rate of return
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