单项选择题:
An analyst does research about net present value and gathers the following information about three capital budgeting projects (in $ thousands):
Project Initial Outlay Cash Flow Year 1 Cash Flow Year 2 Cash Flow Year 3
1 150000 70000 90000 40000
2 125000 -50000 90000 195000
3 200000 90000 -30000 250000
Which projects has the highest internal rate of return（）
A. Project 1. B. Project 2. C. Project 3.
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答案：B
解析: Project 1 IRR=17.24%。 Project 2 IRR=22.57%。 Project 3 IRR=19.70%。