A project has the following annual cash flows:
| Year 0: | Year 1: | Year 2: | Year 3: | Year 4: |
| -$4,662,005 | $22,610,723 | -$41,072,261 | $33,116,550 | -$10，000，000 |
Which of the following discount rates most likely produces the highest net present value(NPV)?
The NPV at 15% is $99.93. The NPV at 10% is -$0.01. The NPV at 8% is -$307.59. Where NPV = -4.662,005 + [22,610,723 / (1 + i )1 ] - [41,072,261 / (1+ i )2 ] + [33,116,550 / (1+ i )3 ] – [10,000,000 / (1+i )4 ]