Yanik Company is considering investing in a project that will cost $162,000 and have no salvage value at the end of its 5-year life. It is estimated that the project will generate annual cash inflows of $45,000 each year. The company has a hurdle or cutoff rate of return of 8% and uses the following compound interest table: 
Instructions
Using the internal rate of return method, determine if this project is acceptable by calculating an approximate interest yield for the project.
Definitions:
Debt-to-Equity Ratio
A gauge of a firm's financial risk, determined by dividing its overall debts by the equity of its shareholders.
Year 2
A term often used to refer to the second year of a business operation, project timeline, or financial plan.
Return on Equity
A measure of a company's profitability, indicating how much profit a company generates with the money shareholders have invested.
Year 2
Typically refers to the second year of an entity's operations, plan, or financial reporting.
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