YEARS CASFLOW PVIF PVCF

0 -50000
1 10000 0.909 9090
2 15000 0.826 12390
3 20000 0.751 15020
4 25000 0.683 17075
5 30000 0.621 18630
TOTAL 72205
AT 10% NPV=PVCF-ICF=72205-50000=22205
YEARS CASFLOW PVIF PVCF
0 -50000
1 10000 0.800 8000
2 15000 0.640 9600
3 20000 0.512 10240
4 25000 0.410 10250
5 30000 0.328 9840
TOTAL 47930

AT 25%
Trial and error method
0.10 72205

x 22205

0.15 IRR 50000 24275

0.25 47930

x/15=22205/24275
x=0.914*0.15=0.1372
IRR=0.10+0.1372=0.2372=23.72%