This is a sample questions that has the answer given. I cannot come to the answe

Question

This is a sample questions that has the answer given. I cannot come to the answer listed in my study materials. I posted this before and someone found that I did the correct calculation. I am reposting to see if someone else can help. I will also contact my prof. to see if it is a typo in the materials

A project requires an initial investment of $347,500. The project generates free cash flow of $600,000 at the end of year three. What is the Internal rate of return for the project?
Using the given information I enter the initial cash outlay or $347,500 then free cash flows of $100,000 for year 1, $200,000 for year 2 and $300,000 for year 3 (total $600,000 of free cash flows at end of year three).

I am following the instructions in my text and using my financial calculator. I enter as follows:
CF = -347,500 enter down arrow
100,000 enter, down arrow
1 enter, down arrow
200,000 enter, down arrow
1 enter, down arrow
300,000 enter, down arrow
1 enter
IRR CPT and I get 27.282%
This is a practice question so I have the answers and this is NOT one of the answers. I have been able to calculate all of the other IRR questions appropriately. Can you tell me what I am doing wrong?

My study materials say that 19.97% is the correct answer but I can't get there. HELP PLEASE!

Explanation / Answer

I think contacting your professor is the best idea here. I ran the calculations and came to the same conclusion you did. Your answer appears to be right.

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