Cost investment: $10,000,000
Straight line depreciation: 4 years
Selling price at the end of 4 years: $4,000,000
Revenue: $3,500,000
Additional costs: $1,000,000
Fund Inventories: $2,000,000
Fund account receivables: $3,000,000
Fund account payables: $2,000,000
Cost of capital: 7%
Tax rate: 18%
What I calculated:
Initial Investment $13,000,000
Operating cash flow: $2,500,000
Terminal cash flow: $6,280,000
Net present value: -$6,300,860
Payback period: 5.2 years
How to find the IRR of this project?
Please explain step by step especially the part on finding the value from the tables.
And how do I know which table to refer from? PVIFA or PVIF?