单选题 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.

【正确答案】 B
【答案解析】[解析] Project 1 IRR=17.24%。
Project 2 IRR=22.57%。
Project 3 IRR=19.70%。