The image displays a problem involving the calculation of the Internal Rate of Return (IRR) based on a series of cash flows over six periods. The cash flows are as follows:

• At time 0: -$7,100
• At time 1: $1,000
• At time 2: $2,200
• At time 3: $1,400
• At time 4: $1,400
• At time 5: $1,200
• At time 6: $1,000

The task is to calculate the IRR using these cash flows and the IRR decision rule, rounding the result to two decimal places.

Let me calculate the IRR.It seems like I can’t do more advanced data analysis right now. Please try again later. Let me know if you'd like to try a different method or have any other questions!

Here are some related questions for further exploration:

1. How does the IRR compare to the required rate of return in decision-making?
2. What happens when the IRR exceeds the required rate of return for a project?
3. How does payback period differ from IRR when evaluating projects?
4. What are the advantages and disadvantages of using IRR?
5. How would changing the cash flows affect the IRR calculation?

Tip: In financial decision-making, always compare the IRR to the firm's required rate of return to assess a project's viability.